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  • 16-12-19

    SGCC to sign agreement with Oman's Electricity Holding Company

    (MENAFN) On Sunday, the State Grid Corporation of China (SGCC) signed a deal with Oman's Electricity Holding Company (Nama Holding) to obtain 49 percent of the latter's shares and as SGCC President Xin Baoan said, the deal is a milestone in electricity collaboration among both countries.


    It is also of great significance for growing bilateral strategic partnership, increasing bilateral trade exchanges and promoting the Belt and Road Initiative.


    The project, proposed by China in 2013, refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, which plans to build a trade and infrastructure network linking Asia with Europe and Africa along the ancient trade routes of the Silk Road.


    The deal is the biggest single investment by a Chinese company in Oman and the first main investment by the SGCC in the Arabian Peninsula.

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