Raeco to invest $400mn in power infrastructure
Omani rural utility will add 145MW of capacity over the next three years.
Oman‘s Rural Areas Electricity Company (Raeco) plans to invest just shy of $400mn over the next three years on power infrastructure.
Hamad bin Salim Al Maghderi, the company’s chief executive said work will include adding generation capacity, building transmission lines and distribution networks in different parts of the country, the Times of Oman reported.
He added that this was the assured capital expenditure between 2015 and 2017 under a business plan, which is under implementation now.
The investment will lift Raeco’s power generation capacity by 145 megawatt (mw) to a total capacity of 427MW by the end of 2017.
"We are developing a power plant in Mazyouna, a new transmission line in Haima and network expansion in Duqm," he said.