(MENAFN) Several agreements to build Ibri and Sohar USD2.2bn's 3 independent power plants (IPP) will be inked by Oman Power and Water Procurement Company (OPWP) with consortium of Japan's Mitsui & Co and ACWA Power.
OPWP is the sole procurer of all new power generation and water desalination capacity in the Sultanate, and under the pact, the consortium will build, own and operate both plants and sell power to OPWP under a 15y power purchase deal.
In particular, the scheme, which consists of two new natural gas-fired combined cycle power plants, is the largest power procurement in the Sultanate with a total installed capacity of 3,219MW located at Ibri, and Sohar Industrial Port.
Moreover, Mitsui & Co., Ltd. as the managing member will control 50.1 percent, ACWA Power will hold the rest stake in the project, which is due to begin operations by the first three months of 2019.
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