Latest news with #RO550mn
Muscat Daily
7 days ago
- Business
- Muscat Daily
Oman launches new RO75mn development bond issue
Muscat – The Central Bank of Oman (CBO), acting on behalf of the government of the sultanate, on Tuesday announced the launch of the 76th Government Development Bonds issue, valued at minimum RO75mn. In a statement, the CBO said that the size of the new bonds issue is set at RO75mn, with a green shoe option of up to RO15mn. The bonds will have a maturity period of five years and carry an annual coupon rate of 4.35%. Subscriptions will be open from August 13 to August 19, 2025, with the auction scheduled for Wednesday, August 20, 2025. The issue date is set for August 24, 2025. Interest on the bonds will be paid semi-annually on February 24 and August 24 each year, until the maturity date on August 24, 2030. The 76th Government Development Bonds issue is open to all investors – residents and non-residents alike – regardless of nationality. Applications may be made only through the competitive bidding process, via commercial licensed banks operating in Oman during the subscription period. Investors applying for RO1mn or more may submit their bids directly to the CBO, after securing endorsement from their banks. Government Development Bonds are direct and unconditional obligations of the Government of the Sultanate of Oman, represented by the Ministry of Finance. They may be used as collateral to obtain loans from any local commercial licensed bank and can also be traded at prevailing market rates on the Muscat Stock Exchange (MSX). Allotment details will be recorded in the register maintained by the Muscat Clearing & Depository Company (MCD). Investors must therefore ensure that the bank account details provided match those registered with MCD, in order to facilitate the smooth processing of bids and timely payment of coupons and principal. The 76th Government Development Bonds issuance forms part of the government's broader plan to raise RO750mn from the domestic debt market in 2025, as outlined in the Ministry of Finance's budget guidance. The planned issuances will help meet financing requirements, including a projected budget deficit and debt servicing obligations. For 2025, the government intends to issue total eight tranches of development bonds totalling RO550mn, in addition to two sovereign sukuk offerings with a combined value of RO200mn. According to the 2025 state budget, total financing requirements are projected at RO2.454bn. This includes a budget deficit of RO620mn and RO1.834bn for debt servicing. The government plans to meet these needs through a combination of local borrowing (RO750mn), external borrowing (RO1.304bn), and withdrawals from reserves (RO400mn).
Zawya
08-04-2025
- Business
- Zawya
Oman: Nama Water working on projects worth more than $1bln
Muscat – Nama Water Services is currently working on a series of key projects valued at more than RO550mn, according to Qais bin Saud al Zakwani, CEO of the company. The announcement was made during the opening of the Oman Water Week conference on Monday at the Oman Convention and Exhibition Centre, with over 100 international and regional experts in attendance. In his speech, Zakwani said that the company's ongoing projects include significant investments in water transmission lines, increased storage capacity, and expanded sanitation networks. He also stated that Nama Water Services is committed to further investment in these sectors in the future. He added that Nama Water Services aims to maximise local added value by allocating 20 per cent of the total cost of strategic projects to local content, with a focus on engaging small and medium enterprises. This, he said, will support the national economy and create new opportunities for entrepreneurship in the water and infrastructure sectors. Furthermore, Nama Water Services is exploring alternative water resources to maximise benefits from various sources. One notable project is the Wadi Dayqah Dam Water Purification Plant in Quriyat, which will utilise surface water and purify it according to the highest international technical standards. The company has also made progress in upgrading its water metre infrastructure, converting mechanical metres to digital ones. This upgrade has resulted in approximately 95% of subscribers now having access to digital metres, which help raise awareness about water conservation by providing real-time updates on consumption. 'This also ensures more accurate billing for consumers.' In line with its efforts to optimise water use, Nama Water Services has established a monitoring centre that operates around the clock to analyse water consumption patterns. 'This allows the company to address challenges promptly and efficiently.' Zakwani also emphasised the importance of reclaimed water, treated using international best practices. He stated that reclaimed water is essential for ensuring the efficient use of water resources and promoting environmental balance by increasing green spaces across Oman. Oman Water Week 2025 features a range of specialised sessions and workshops focused on water management, innovative technologies, and emerging trends in the field. The event also includes an exhibition with over 60 exhibitors from more than 25 countries. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
07-04-2025
- Business
- Muscat Daily
Nama Water working on projects worth more than RO550mn
Muscat – Nama Water Services is currently working on a series of key projects valued at more than RO550mn, according to Qais bin Saud al Zakwani, CEO of the company. The announcement was made during the opening of the Oman Water Week conference on Monday at the Oman Convention and Exhibition Centre, with over 100 international and regional experts in attendance. In his speech, Zakwani said that the company's ongoing projects include significant investments in water transmission lines, increased storage capacity, and expanded sanitation networks. He also stated that Nama Water Services is committed to further investment in these sectors in the future. He added that Nama Water Services aims to maximise local added value by allocating 20 per cent of the total cost of strategic projects to local content, with a focus on engaging small and medium enterprises. This, he said, will support the national economy and create new opportunities for entrepreneurship in the water and infrastructure sectors. Qais bin Saud al Zakwani Furthermore, Nama Water Services is exploring alternative water resources to maximise benefits from various sources. One notable project is the Wadi Dayqah Dam Water Purification Plant in Quriyat, which will utilise surface water and purify it according to the highest international technical standards. The company has also made progress in upgrading its water metre infrastructure, converting mechanical metres to digital ones. This upgrade has resulted in approximately 95% of subscribers now having access to digital metres, which help raise awareness about water conservation by providing real-time updates on consumption. 'This also ensures more accurate billing for consumers.' In line with its efforts to optimise water use, Nama Water Services has established a monitoring centre that operates around the clock to analyse water consumption patterns. 'This allows the company to address challenges promptly and efficiently.' Zakwani also emphasised the importance of reclaimed water, treated using international best practices. He stated that reclaimed water is essential for ensuring the efficient use of water resources and promoting environmental balance by increasing green spaces across Oman. Oman Water Week 2025 features a range of specialised sessions and workshops focused on water management, innovative technologies, and emerging trends in the field. The event also includes an exhibition with over 60 exhibitors from more than 25 countries.
Muscat Daily
08-02-2025
- Business
- Muscat Daily
Oman launches RO100mn development bonds issue
Muscat – The Central Bank of Oman (CBO), on behalf of the sultanate's government, has announced the launch of a new government development bonds issue, valued at RO100mn. The bonds, set for a five-year maturity, will offer a coupon rate of 4.60% per annum, according to a statement released by the CBO. Subscription opens on February 9 and will run through to February 13, 2025. The auction for the issue will take place on February 16, 2025, with the issue date slated for February 18, 2025. Interest on the bonds will be paid semiannually, on February 18 and August 18, through to the bonds' maturity on February 18, 2030. The 73rd issue of government development bonds is open to all investors, including both residents and non-residents, regardless of nationality. The bonds will be offered exclusively through a competitive bidding process. Interested parties can place bids through commercial licensed banks in Oman during the subscription period. Investors placing bids for RO1mn or more may also submit their bids directly to the CBO, provided they obtain bank endorsements. These bonds are direct, unconditional obligations of the Omani government and can be used as collateral for loans with local banks. They will also be tradable on the Muscat Stock Exchange (MSX), with the details of allocations recorded by Muscat Clearing & Depositary Company (MCD). Oman's government plans to issue government development bonds and sovereign local sukuk worth RO750mn this year. The planned local market issuances are part of the government's strategy to meet financing requirements, covering both a projected budget deficit and public debt servicing. The government will raise the total RO750mn from the local market through eight issues of government development bonds worth RO550mn and two issuances of sovereign local sukuk worth RO200mn, according to details outlined in the Ministry of Finance's 2025 budget guidance. The ministry has designed the borrowing plan for 2025 based on estimates outlined in the State's General Budget for 2025. This includes projections for public debt, financing needs, and the financing structure for the year ahead. Total financing requirements for 2025 are projected at RO2.454bn, which includes a budget deficit of RO620mn and RO1.834bn needed for debt servicing. The government intends to cover these requirements through a combination of local borrowing (RO750mn), external borrowing (RO1.304bn), and a withdrawal from reserves (RO400mn). For 2025, issuances of government development bonds are planned for February (RO100mn), April (RO100mn), June (RO60mn), July (RO60mn), August (RO60mn), September (RO60mn), October (RO60mn), and December (RO50mn). In addition, two issuances of local sovereign sukuk are scheduled for May (RO100mn) and November (RO100mn).
