MUSCAT: Oman National Engineering & Investment Company (ONEIC) won OMR 4 million case against an electricity company pertaining to one of the billing contracts.
In its statement dated June 20, Oman National Engineering & Investment Company informed its shareholders and investors that “ the arbitration panel has issued its award on Monday to the benefit of ONEIC versus one of the electricity companies pertaining to one of the billing contracts.”
The award ordered to pay the claim value amounted to OMR 4,021,044 and the interest rate @6.5% from July 2020 till full payment in addition to the arbitration fees and the expert fees.
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The statement also stated that, “It is worth mentioning that OMR 4 million of this amount is registered in the books as receivables and not covered by provisions.”
