China’s State Grid enters agreement with Oman Electricity Transmission Co for stake acquisition

Oman’s Nama Holding, the holding company of state-owned electricity network companies, has entered into an agreement with the State Grid International Development Ltd. (SGID), a wholly-owned subsidiary of the State Grid Corporation of China (SGCC), for the sale of a 49% stake in the Oman Electricity Transmission Company (OETC). 

The transaction is subject to the approval of the authority for Electricity Regulation, and (subject to satisfaction of this condition) completion is expected to occur in early 2020.

The deal could potentially generate up to US$2 billion in investment.