Oman investing $2bn in water sector 2006/10 - official

EMERGENCY SUPPLIES: Omanis queue for water after the tropical storm in June 2007. (Getty Images)

Oman is investing more than $2 billion in its water sector under its 2006/10 development plan and will privatise two waste water companies, the head of the sultanate's water authority said on Sunday.

"The planned investment in the water sector alone as part of our seventh five year plan is in excess of $2 billion. For drinking water alone the investments total $1.82 billion and another $385 million for constructing dams," Zahir Al-Suleimani told a power and water conference in Abu Dhabi.

The projects, which aim to help meet rising demand for water from domestic and commercial users, are financed entirely by the government and contractors are hired to execute them, he said.

Oman is privatising its two waste water companies to achieve more efficiency and attract private investment.

"The government-owned companies will be floated on the stock market," Al-Suleimani said, adding that details would be announced shortly. He declined to elaborate. (Reuters)

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