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FinancialNews
06-11-18
Oman Gas Company inks USD1.1b pact for gas network upgrade
(MENAFN) Oman Gas Company (OGC) inked a USD1.1 billion deal with a total of seven domestic and foreign financial institutions for the enhancement of its gas network.
CEO of Oman's Oil Company Isam Al Zadjali assured that the amount specified in the agreement is to be spent on the upgrade of transparency in pricing.
The CEO also confirmed the funds to be directed into encouraging efforts for the OGC to develop and ease the procedure of funding.
OGC acting executive managing director Sultan Al Burtmani stated: "the new structure is the first project of its kind in Oman and will allow OGC to operate independently with appropriate financial and operational incentives to encourage efficiency."
MENAFN0611201800450000ID1097664627
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