Road-shows held in London to promote privatisation of Omani electricity firms
Nama Holding (NH), the state-owned holding company of electricity and related water services subsidiaries, has organised road-shows in London on the partial privatisation of two group companies: Oman Electricity Transmission Company SAOC (OETC) and Muscat Electricity Distribution Company SAOC (MEDC). The roadshows were held in the British capital on Monday and Tuesday, and will be conducted in Muscat on November 19.
The privatisation initiatives for OETC and MEDC are being conducted in line with the government’s directives to proceed with the partial privatisation of electricity transmission, distribution and supply companies in the Sultanate.
The road-shows are in line with the partial privatisation programme announcement by Nama Holding globally on October 8. Nama Holding has invited eligible entities, either individually or in consortia, to express interest to participate in the partial divestment of OETC and MEDC.
The privatisation transaction processes will include the sale of up to 49 per cent of its shares in OETC and up to 70 per cent of its shares in MEDC.
“Nama Holding aims at attracting major strategic technical partners and investment institutions. They will serve as investors to these companies, with an aim towards sustaining the role of the Electricity Sector in the National Economy and consolidating its position in international markets.
The partial privatisation of the Group’s electricity companies is a significant step towards improving the operation and service efficiency in the sector, enhancing competitiveness, importing and engaging the most advanced technologies and attracting foreign direct investments in the Sultanate of Oman,” said Eng Omar bin Khalfan al Wahaibi, CEO of Nama Group.
Dr. Mansoor Al Hinai, VP Distribution and Supply at Nama Group, said: “Nama Holding prepared a systematic and integrated framework for the implementation of the privatisation programme. NH aims at attracting key strategic technical operators and investment institutions to participate in the partial privatisation for electricity transmission and distribution companies in the Group.
The privatisation process is divided into three main phases: the Expression of Interest phase, which has already started, the phase of submitting nonbinding bids, and finally the binding bids phase.