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Thursday, April 25, 2024 17:51 GMT
Al Kamil Power Company SAOG will hold an Extraordinary General Meeting (EGM) during the first quarter of 2022 to discuss the company’s liquidation.In a filing to Muscat Stock Exchange today, the company said that with the Power Purchase Agreement (PPA) with Oman’s government -represented by Oman Power and Water Procurement Company (OPWP)- coming to an end this year, Al Kamil will not be granted an extension of the PPA. Al Kamil added that “the electricity spot market will not be economically feasible for the company”. Hence the decision to discuss the company’s liquidation.