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.
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 (firstname.lastname@example.org)