German Bank Invests in Oman's Energy Sector

A group of international banks will provide USD 1.3 billion for Oman's enery sector. Photo by: shaun/d / CC BY NC-SA shaun/dCC BY NC-SA

A group of international banks led by Germany’s KfW IPEX-Bank are providing more than USD1.3 billion for the construction of two energy-efficient power plants in Oman.

KfW IPEX-Bank will invest approximately USD380 million in the two power plants, which will be built by a consortium of German and Korean construction companies. Among other investors in the projects is the Export-Import Bank of Korea, according to a news release from KfW.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.