Nama receives 14 offers for a stake in MEDC

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هذه الصفحة متوفرة بهذه اللغة: العربية

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7 April 2021

MUSCAT (WAF)- Omani state-owned Nama Holding Company has received 14 bids from investors who expressed their interest in buying a stake in its subsidiary, Muscat Electricity Distribution Company (MEDC), a spokesperson said.

In an interview to Oman state TV, Ahmed al-Mehrezi, general manager at Nama, said that after the completion of the sale of 49% of the Oman Electricity Transmission Company (OETC) to a strategic investor, “the privatisation of Muscat Electricity Distribution Company to a strategic investor is being completed with the same mechanism, we received about 14 offers from investors from several countries.”

According to Nama Holding Company’s announced plan and its subsidiaries, the government seeks to sell majority stakes of up to 70% in the electricity distribution companies, including MEDC as the first company to be privatised following the sale of the minority stake in the Electricity Transmission Company. 

MEDC privatisation was due to be completed in 2020, but the impact of the Covid-19 pandemic affected the plan.

In December 2019, Nama sold 49% in OETC to State Grid Corporation of China (SGCC) for one billion USD, as one of five companies the government is planning to sell a stake in.


Related stories:

Chinese SGCC buys 49% stake in OETC

Nama starts privatisation of OETC and MEDC

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