MUSCAT: Oman has received 25 expressions of interest from investors interested in buying stakes in two electricity companies under a privatisation plan aimed at boosting state coffers, Reuters on Monday quoting officials.

According to the report, Nama Group, a government holding company, plans to sell a 70 percent stake in Muscat Electricity Distribution and 49 percent of Oman Electricity Transmission. The firms have combined assets worth $3.2 billion.

Nama tweeted that it had received 14 offers for Muscat Electricity Distribution and 11 bids for Oman Electricity Transmission. It said 23 “strategic and financial investors” were among the bidders but did not name them.

Oman has forecast a 2019 budget deficit of 2.8 billion rials ($7.3 billion) or 9 percent of gross domestic product.