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ONIEC wins contracts worth RO21.3mn

30 Dec 2023

Muscat – Oman National Engineering and Investment Company (ONEIC) has secured two major contracts with a total value of RO21.3mn, as per the company’s disclosures to the Muscat Stock Exchange.

ONEIC announced the conclusion of a RO16.5mn contract to establish and maintain an international school in the Knowledge Oasis Muscat (KOM) area on an investment basis for one of the operators specialised in the field of education.

‘The contract value, including the maintenance contract amount, is RO16.5mn over a period of 15 years in cooperation with Artemis Education International. The company expects to achieve good returns from the project in the coming years, contributing to the long-term stability of the company’s business,’ ONEIC said in its disclosure to the Muscat Stock Exchange.

In another disclosure to the Muscat Stock Exchange, the company announced that Sohar Titanium FZC has awarded ONEIC a contract for the construction of a 132kV/33kV power station in Sohar Free Zone for the sum of RO4.856mn for the period of 13 months commencing on December 25, 2023.

‘The company anticipates realising reasonable profits from this contract,’ ONEIC added.

Located in Sohar Free Zone, Sohar Titanium project is a strategic partnership between Minerals Development Oman (MDO), Dubai Holding Company and Stork International Group through Gulf Titanium Company. The project is being established on an area of more than 120,000 sqm, with a capacity of 150,000 tonnes per year and a cost of RO43mn.

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