Dhofar Power Company Saoc

DPC is a closed Omani joint stock company registered under the Commercial Companies Law of Oman. The Company was incorporated on 25 February 2001 and has commenced its commercial operations on 1 May 2003 (the Commercial Operation Date “COD”). As of date the establishment and operations of the company are governed by the provisions of the Concession Agreement between the Ministry of Housing Electricity and Water (MHEW), DPC and Dhofar Generating Company (DGC) dated 17 March 2001. However based on the directive issued by Public Authority for Electricity and Water (PAEW) pursuant to the Cabinet Decision to terminate the Concession Agreement restructuring activities has been initiated. The implication on the company would be that Generation, Transmission, Distribution and Supply businesses currently undertaken by the company as a vertically integrated utility will be separated and these businesses would be regulated under the general provisions of The Law for the Regulation and Privatization of the Electricity and Regulated Water Sector (the “Sector Law”) issued by Royal Decree 78/2004 as amended by Royal Decree 59/2009. Accordingly the company will undertake regulated distribution and supply of electricity in the Salalah region