Muscat: Two electricity distribution companies in Oman will be privatised, as the government seeks to provide better and faster services, as well as cheaper electricity rates, to its customers.

Nama Holding, a government-owned holding company, announced the pre-qualification offers for the partial privatisation programme for Nama Group’s electricity transmission and distribution companies. Nama received 14 applications for Muscat Electricity Distribution Company and 11 applications for Oman Electricity Transmission Company.

The announcement was made in a press conference held on Monday, which reviewed the results of the pre-qualification stage for the investors involved in the privatization process.

In October, the company announced he sale of up to 49 per cent of Nama Holding shares in Oman Electricity Transmission Co (OETC), and the sale of up to 70 per cent of Nama Holding shares in its distribution and supply companies.

Nama Holding's electricity companies include Muscat Electricity Distribution Co (MEDC), Majan Electricity Distribution Co (MJEC), Mazoon Electricity Distribution Co (MZEC), and Dhofar Power Co (DPC).

On this occasion, Eng Omar Al Wahaibi, CEO of Nama said, “Namaa Holding attaches great importance to the process of privatization of the Group's electricity transmission and distribution companies, while Nama Holding strives to continue to empower the role of the electricity sector in the Omani economy and to consolidate its position in the international markets.".

He added, “Through this process, We seek to develop the efficiency of service in the sector and to promote competition and seek to attract the latest technology and advanced technology, which will be reflected in improving the service of subscribers and improve the efficiency of the use of resources and reduce the cost per unit of electricity supplied over time.”

On his side, Mansoor Al Hinai, Executive Vice President, Distribution and Supply at Nama Group, said, “A large group of companies and institutions have submitted prequalification offers to participate in the privatization process for these two companies, including 14 applications for Muscat Electricity Distribution Company and 11 applications for Oman Electricity Transmission Company, from 23 strategic and financial investors."

Nama Holding held a meeting with a large number of local and international investors through Nama Holding 's networking sessions in Muscat and London in November 2018. 90 international companies were introduced to present their corporate assets and clarify their investment opportunities.

 

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