Mazoon to spend over $500mn on Oman grids
Firm to invest cash in networks over a three-year period from 2015.
Mazoon Electricity Company is planning to spend another OMR200 mn ($520mn) to expand and upgrade power distribution networks in Oman.
The company, which is engaged in power distribution in Dakiliya, Sharqiya and South Batinah governorates, wants to spread the investment over a three-year period between 2015 and 2017.
"We have about 330,000 customers and we are looking at a growth of almost 8 per cent per year. We are adding between 25,000 and 30,000 new customers per annum," Eng Zahir bin Abdullah Al Abri, chief executive officer of Mazoon Electricity Company, told Times of Oman.
Eng Al Abri said the company is also investing a total of OMR 200 mn during the current three year period to the end of this year.
"Some of these projects are completed, while others are either in progress or yet to be awarded.
"With these investments for upgrading the network, we can ensure a stable supply of electricity to our customers," he said, adding that the 2,000 MW Sur power plant is in the commissioning stage.