ONEIC wins $7.4 M contract to build substation
Oman, Duqm: The contract covers construction of a 3×20 MVA primary substation for light industries and showroom area in Duqm Oman National Engineering and Investment Company (ONEIC) has been awarded a construction contract worth $7.4 M (OMR2.9 M) by Rural Areas Electricity Company (TANWEER).
In a stock market missive undersigned by the CEO, Rahsid Bin Mohammed Alghailani, the company said that the contract covers construction of a 3×20 MVA primary substation for light industries and showroom area in the Wilayat of Duqm.
ONEIC added in the filing, the contract has been awarded for a 14-month period that starts on 17 March 2020.
In January, ONEIC secured an operations and maintenance (O&M) contract worth $10.9 M from the sultanate’s Ministry of Health. The contract was awarded on 3 March 2020 for The Royal Hospital for a three-year period, starting from 1 April 2020 to 1 March 2023.
ONEIC posted a net profit of $3.9 M in 2019 that dropped by 25 % from $5.2 M in 2018.
Source: Construction Week