OMAN

ACWA/MITSUI Secure Oman Power Finance

A consortium of Saudi firm ACWA, Japan’s Mitsui and local firm DIDIC have secured $630mn of loans to fund the 445MW Salalah-2 CCGT power plant at Raysut on the coast of Oman’s southernmost Dhofar province.

The debt takes the form of long-term limited recourse project financing from Standard Chartered, Sumitomo Mitsui, Mizuho, Germany’s KfW IPEX-Bank, and Oman’s Bank Muscat and Bank Dhofar.

Dhofar Generating (ACWA 45%,...