News
Electricity Company In Oman Ordered To Pay Over RO800,000 To ONEIC
Muscat: An unnamed electricity company based out of the Sultanate has been ordered to pay over RO800,000 to the Oman National Engineering and Investment Company (ONEIC) in a recent court ruling.
Details of the case were made public by the Muscat Securities Market (MSM) on November 8, but the name of the company has been withheld.
The total payable amount of the case – which pertains to a billing contract – amounts to RO804,727.
The MSM statement reads: “The Court of Appeal has passed on 8/11/2020 a judgment in the favour of ONEIC pertaining to the case filed by ONEIC versus Electricity Company for the sum of RO 804,727.
“This amount is the current claim related to a billing contract and shall has (sic.) no effect on the financial results.”
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