London, Nama Holding, a government-owned

company, announced the launch of the privatization programme for

Nama Group’s electricity transmission and distribution companies. The

announcement was made through the inauguration of the first stage of

privatization through a press conference held by Nama Holding in

London, which was chaired by Sheikh Dr. Mansoor bin Talib al-Hinai,

Vice President- Distribution and Supply at Nama Group.

During the press conference, Sheikh Dr. Mansoor Al Hinai

announced the partial privatization of the transmission company and

one of the distribution companies through international strategic

partner. He announced the sale of up to 49% of Nama Holding shares

in Oman Electricity Transmission Company (OETC), and the sale up to

70% of Nama Holding shares in its distribution and supply companies

respectively: Muscat Electricity Distribution Company (MEDC), Majan

Electricity Distribution Company (MJEC), Mazoon Electricity Distribution

Company (MZEC), and Dhofar Power Company (DPC). He added that

OETC and MEDC, are currently being considered for privatization, and

the other three distribution and supply companies listed above

currently operate as fully-owned subsidiaries of Nama Holding.

On his turn, Saud bin Nasser al-Shukaili, Secretary General of

Taxation, Chairperson of privatization steering committee stated: The

government, through the privatization programme, aims to tap private

sector investment and promote private sector participation in nation

building process. It also aims to attract and retain Foreign Direct

Investment (FDI) into the Sultanate to benefit from its technical and

administrative expertise and modern technology, which will reflect in

the improvement of customer service, resource utilization and reduce

cost per unit of electricity supplied, over time,.

For his part, Eng. Omar bin Khalfan al-Wahaibi, CEO of Nama

Group, said: “The privatization of Electricity Companies is part of Nama

Group’s strategy to attract international investments. The investment

with a strategic partner will enhance the role of the electricity sector in

Oman’s economy and will promote the sector’s position in the global

market. The privatized companies will benefit from the global

management expertise that will contribute to raise the efficiency of the

service provided to customers.

Dr. Mansoor bin Taleb al-Hinai announced that Nama Holding now

intends to invite eligible entities, either individually or in consortia, to

express interest to participate in the partial divestment of OETC and

MEDC through Nama Holding website

Source: Oman News Agency