Leading companies in Oman's power sector are planning to invest around RO400 million ($1.03 billion) in the expansion and upgrading of transmission and distribution networks this year, said a report.
The move is aimed at boosting the power supply this year to help meet the rising needs of the sultanate, said a senior official of Electricity Holding Company (Nama Group).
The group companies have already registered a 14 per cent increase in power supply which surged to 29,000 gigawatt (GW) per hour in 2015, it stated.
"Our group firms have already raised the funds from the market for the upgradation work and we do not intend to use the government funding for now," remarked Omar Khalfan Al Wahaibi, chief executive officer of Nama Group.
The investment is aimed at the development of transmission and distribution lines, he added.