Muscat: Oman Electricity Transmission Company (OETC), a member of the Nama Group, has confirmed the maintenance of its high credit rating at “BB+” with a stable outlook from Fitch Ratings, one of the world’s leading credit rating agencies. This rating reflects the company’s strong financial performance and institutional stability, as well as its operational efficiency and effective risk management.
The rating reaffirms international financial institutions’ confidence in the company’s financial position and enhances its ability to secure competitive financing to support its future projects—particularly those contributing to Oman’s energy transition and aligned with the objectives of Oman Vision 2040.
Mr. Ali Al Reesi, Chief Financial Officer at OETC, stated: “The renewal of our credit rating by one of the most prestigious global credit rating agencies is an achievement that reflects our commitment to sound governance, prudent financial management, and strategic planning rooted in resource efficiency. This rating also strengthens the confidence of current and potential investors and confirms our readiness to respond to market developments and the evolving needs of the energy sector.”
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Al Reesi added that the company is moving forward with its investments to develop the electricity transmission infrastructure, enhance operational efficiency and technical readiness, and adopt best practices in financial management and sustainability assuring long-term institutional excellence.
It is worth mentioning that OETC, a member of Nama Group, is the only company responsible for the transmission and control of electricity across the Sultanate’s network. The electricity is transmitted from production stations to distributed load centers in the governorates. The transmission network operates at a voltage of 132kV and above to cover most of the governorates in the Sultanate, whether in the north or the south. Furthermore, OETC manages the interconnection lines between Oman and the GCC interconnection network, which operates at a voltage of 220kV.
