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English news

02-Mar-2016

Investment in electricity projects grew 27% in 2015

Oman’s capital investment in electricity projects recorded a growth of 27 per cent at OMR221 million in 2015, as against OMR174 million in 2014, despite plunging crude oil prices and global economic crisis, says Engineer Hamad bin Salim Al Maghderi, chief executive officer of Rural Areas Electricity Company. He explained that decline in oil prices would not affect the plans of the companies in implementation of various power projects as there is a clear work programme supported by the government which is going on according to the planned schedule and these projects are self-funded. (Times of Oman)

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