MUSCAT: Nama Group, the umbrella organisation of Omani state-owned power and water procurement, generation, transmission, distribution and supply entities, has reported a 21.2% rise in its operating revenues by 2022.

By the end of 2022, the Group achieved a significant increase in its pre-tax profits to reach OMR 139.8 million, while its total total operating revenues increased to OMR 1.8 billion by the end of last year.

In a statement issued, Nama Group said it is currently working on raising the efficiency of the system and the performance of its subsidiaries to save costs by employing modern technologies and renewable energy sources and improving the services provided to subscribers.

The Group also confirmed that its restructuring step in line with the directives of the Oman Investment Authority came to achieve a number of goals, including financial sustainability, achieving cost savings and increasing the efficiency of the supply chain, as the group restructured the debts of its subsidiaries to ensure they have sustainable financing structures for future requirements.

Namaa Group stated that it is implementing a series of initiatives related to green energy and sustainability, and has issued a number of tenders for renewable energy projects, and it is expected that these stations will generate approximately 1,000 megawatts during the next three years.

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