Oman awards $640m power supply contracts
Oman Electricity Transmission Company has awarded power contracts worth $640 million to supply electricity to eight new towns under construction, it said in a statement.
The state-owned power company did not name the businesses that had won the contracts to build and extend grid stations and transmission lines.
The Omani authorities have announced a number of new town projects this year. In October it launched seven community developments designed to provide 12,000 homes.
Under the $1.8 billion project, 9,000 plots of land will be allocated to Omani citizens to build homes using subsidised government loans.
State-owned Oman Housing Bank will offer Omani first-time buyers loans with a 2 percent interest rate, rather than the 6 percent typical of commercial lenders.
In May Oman announced plans to build two low-carbon cities in the mountain region of Jebel Akhdar and in Muscat’s Bawshar Heights. Properties will be available to Omanis, expatriates and investors.
Further reading:
- Airbus to build Oman’s first communications satellite
- Developers rush to buy plots next to Oman-UAE railway
- Oman and China start work on $1bn clean energy projects
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