Mubasher: United Power SAOG will deliver the two phases of Manah Power Plant to the government by 2020, said a bourse filling.
On the other hand, the company stated that in terms of the Power Purchase Agreement (PPA)it awarded by the Ministry of Electricity and Water in 1994, the company constructed the Interconnection and transmission Facilities (ITF) under build, own and transfer (BOT) basis.
The transfer of the assets was stipulated to be effective on completion of 20 years concession period ending 14 September 2016.
As per the PPA, the assets were to be fully depreciated and transferred to the Government against a nominal compensation of OMR 1.
