Oman’s electricity generation and water desalination sector received around $10 billion in total foreign direct investment (FDI) to date, said a report.

Yaqoob Al Kiyumi, chief executive officer of Oman Power and Water Procurement Company (OPWP), the sole offtaker of electricity and water under the sector law, highlighted the strong appeal of this key industry to international investors and utilities, added the Oman Daily Observer report.

Al Kiyumi said that the sector is also making a significant contribution to national development and economic growth.

He added that as many as 16 privately-owned power and water companies now make up the bulk of firms operating in this key industry.

Al Kiyumi noted that the shares of power and water project companies listed on the Muscat Securities Market are now valued at around RO450 million ($1.168 billion). These companies have also spent in excess of RO 500 million ($1.3 billion) on products, equipment and services during the execution, as well as operation and maintenance.

Copyright 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.