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Merger of electricity firms to cut operational costs

The companies have been brought under two main companies: Nama Electricity Distribution and Nama Supply ....

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Merger, restructuring of companies to cut costs, raise efficiency

The process ensures uninterrupted flow of business and projects ....

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MoC inked for localisation in energy sector

The National Employment Programme (NEP), Mazoon Electricity Company and Industrial Innovation Academy signed a memorandum of cooperation (MoC) on Wednesday to implement an initiative titled ‘Augmenting local content in the energy sector’. ....

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Mazoon Electricity to invest in network development

BUSINESS REPORTERMUSCAT, MAY 24Mazoon Electricity Company SAOC (MZEC), a subsidiary of Nama Holding, announced the signing of its debut Islamic financing facility for an amount of $235,000,000. The proceeds will be used to finance the capital expenditure plans of MZEC for 2021 mainly comprising investments in the electricity distribution and supply network. ....

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Mazoon Electricity signs Islamic financing contract worth $235 million

Mazoon Electricity signs Islamic financing contract worth $235 million
By: Times News Service
Muscat: Mazoon Electricity Company (MZEC), a subsidiary of Nama Holding, announced the signing of its debut Islamic financing facility for an amount of $235,000,000.
The proceeds will be used to finance the capital expenditure plans of MZEC for 2021 mainly comprising investments in the electricity distribution and supply network in its license areas in Oman.
The facility is structured as a 2-year Ijarah bridge facility marking the first Islamic bank facility for Nama Group that has in the past raised several conventional bank loan facilities and issuances in the debt capital markets under RegS and 144a format, including a 10-year $500,000,000 debut Sukuk in 2017. The facility received interest from regional banks of Bahrain, Kuwait and United Arab Emirates with 12 financiers participating in the facility and an oversubscribed order book. ....

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