Nama PWP extends its agreement with Al Rusail Power Company

Nama Power and Water Procurement (PWP) extends its agreement with Al Rusail Power Company

Muscat: “Al Rusail Power Company SAOC – Extension of the Existing Ancillary Service Agreement.

In a disclosure to Muscat Stock Exchange the company said: “SMN Power Holding SAOG (“the Company”) would like to inform the Capital Market Authority, Muscat Stock Exchange and the Investors’ Community that Al Rusail Power Company SAOC, 99.9% owned subsidiary of the Company, received an offer to extend the existing Ancillary Service Agreement with Nama Power and Water Procurement Company SAOC (“PWP”) effective from 04 February 2024 to 31 March 2024. The extension agreement has been officially signed with PWP on 6th February 2024.

The Company take this opportunity to thank PWP and the Authority of Public Services Regulation (“APSR”) and the other stakeholders for their continued support and cooperation.

The Company also would like to inform the investors that as advised previously, Al Rusail Power Company SAOC is participating in Power 2024 tender and has submitted its bid. The Company is currently awaiting the final tender outcomes and will update the investors accordingly.

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