ARAB NEWS
ABU DHABI: Ghantoot Group announced Sunday that it will invest $500 million (AED 1.83 billion) in various projects in Oman's hospitality, water and power sectors, which may bring 2,000 new jobs for Omani nationals.
A top official of the group said that starting 2012, it plans to establish two power plants, three hotels and investment in other facilities like water desalination, transmission and distribution and oil and gas projects aimed to benefit the Sultanate.
The first power plant, of 140MW capacity, will be set up in Ras Al Khaimah in the UAE to supply electricity exclusively to Musandam, Oman, and adjoining areas, while another power plant, of 120MW capacity, will be set up in central Oman at a site to be finalized soon. When completed, the two plants will provide power to Omani consumers at a lower cost to the government.
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