Privatisation of Muscat utility planned by year-end
Published: 9:47 PM, May 11, 2021
Untitled-1
MUSCAT, MAY 11
The partial privatisation of Muscat Electricity Distribution Company (MEDC) is due to be completed before the end of this year, top officials of Nama Group, the parent holding company of government-owned power and water assets, stated here on Tuesday.
Under Nama Group’s privatisation strategy, up to 70 per cent of its equity in MEDC — the largest of the country’s distribution and supply entities — is being offered for investment, effectively granting administrative and operational control to the strategic investor.
The balance 30 per cent will be eventually offered for public investment via an Initial Public Offering (IPO) to be floated on the Muscat Stock Exchange (MSX).