Canadian firm chosen for privatisation study
CPCS Transcom selected to explore floatation of Muscat Electricity Distribution Company.
A consortium of advisors led by Canada-based CPCS Transcom International has been chosen to undertake a strategic study to explore the privatisation of Muscat Electricity Distribution Company (MEDC).
The tender was floated by Electricity Holding Company (EHC), the holding company of a government-owned group of companies engaged in the generation, transmission, distribution, supply and procurement of electricity in Oman.
CPCS Transcom International was chosen due to its “wealth of experience in handling similar consultations across the globe,” EHC said in a statement to the Muscat Securities Market.
The group of consultants is expected to commence the study this month.
MEDC is a joint stock Omani company which was formed as a result of the restructuring of the electricity and related water sector under the sector law promulgated by Royal Decree in 2004.
It is licensed by Authority for Electricity Regulation for the distribution and supply of electricity in Muscat Governorate.