October 30, 2024
LG
LG International’s JV listed in Oman
LG International said Dec. 9 that its joint venture with Oman Oil has been listed on the Omani stock market.
Musandam Power debuted on the Muscat Securities Market last week.
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LG International said it retains an 18 percent stake in Musandam Power after selling a 12 percent stake worth $6.9 million.
In addition, LG International said it earned revenue through operation of the 120-megawatt power plant in Musandam, which began in 2017.
The moves helped LG International recover all of its $11 million investment in Oman.
By Ram Garikipati and newswires (ram@heraldcorp.com)
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