Muscat – Oman National Engineering & Investment Company (ONEIC) has been awarded two major contracts worth RO41.963mn by Oman Electricity Transmission Company (OETC), a member of Nama Group, to build power transmission lines in Dhofar Governorate.

‘The company would like to announce to its valued shareholders and investors that OETC has awarded ONEIC two tenders for the sum of RO41,963,337, for establishing 132kv/33kv electricity transmission lines associated with 132kv transmission lines in Dhofar Governorate,” ONEIC said in a disclosure filed with the Muscat Stock Exchange on Wednesday.

The contract’s duration is for 18 months, commencing on February 13, 2024, as per the disclosure.

Following the announcement of the award of new contracts, ONEIC shares surged 3.5% at the Muscat Stock Exchange on Wednesday.

‘These projects are part of several significant strong projects that have been awarded to the company in an innovative manner and achieved successes and technical leaps in building expertise in the field of engineering specialization,’ ONEIC said.

ONEIC further said that it anticipates gaining diverse experiences and generating substantial revenues through these new projects.