State Grid Corporation of China completed the acquisition of a 49% stake in Oman Electricity Transmission Company for $1bn.

State Grid Corporation of China, the state-owned electric utility monopoly of China, completed the acquisition of a 49% stake in Oman Electricity Transmission Company, the power distribution grid in the Gulf nation of Oman, for $1bn. Through advanced power transmission technologies, management experience and strong brand, SGCC seeks to fulfil its social responsibilities to accomplish with better results. In its approach to international stock assets acquisition in the overseas power and energy sector, greenfield development projects and asset operation management, SGCC follows the principles of equality and mutual growth.