Oman to Encourage Private Investment in Mining
Oman will soon issue a new law governing the exploration and exploitation of minerals with the primary aim of encouraging private companies to invest in its mining sector, Khaleej Times reported.
Commerce and Industry Minister Maqbool bin Ali Sultan was quoted at the opening ceremony of a four-day international conference on Oman's geology at the Sultan Qaboos University (SQU) as saying "the new legislation would be both liberal and flexible and was an "important step towards promoting a strong mining sector."
The Omani government has also sought private sector involvement to help supply 90% of its population with electricity services, and to build a unified national electric grid.
It has sold off several power plants, including the al-Manah project, which was bought by Oman's United Power Company (UPC) as Oman's first build-own-operate-transfer project. UPC is planning an upgrade consisting of a 180-MW capacity expansion, necessitating the construction of a new substation and the installation of new power lines -- Albawaba.com
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