SGCC acquires 49 per cent equity in Oman’s OETC

China’s SGCC has completed the acquisition of 49 per cent stake worth $1 billion in the Oman Electricity Transmission Company (OETC). Oman’s Nama Holdings, the holding company of the state-owned electricity network companies, had signed agreements pertaining to the share sale of OETC to State Grid International Development Limited, a wholly owned subsidiary of SGCC, in December 2019. This move is part of the privatisation programme of Oman’s electricity sector. As a technical partner, SGCC will make use of its technologies and experience in grid operations management with its local partners in the region to continue improving the operational safety and distribution capacity of the country’s electric grid.

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