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Oman's Al Batinah Power names new financial chief

Mitsuo Nakamoto has been appointed as the chief financial officer and disclosure officer of Al Batinah Power, which owns the Sohar 2 and Barka 3 power plants

Al Batinah Power's portfolio includes the Sohar 2and Barka 3 power plants [representational image].
Al Batinah Power's portfolio includes the Sohar 2and Barka 3 power plants [representational image].

Al Batinah Power, an Omani independent power producer, has named a new head for its finance department. 

So Murakami resigned as the company's chief financial officer and disclosure officer, and his departure was effective starting 31 January, 2018. 

READ: Six power and water firms to launch IPOs in Oman over next three years

Mitsuo Nakamoto has been appointed to the role, with effect from 1 February, 2018. 

Al Batinah Power, which is listed on the Muscat bourse, reported revenues worth $183.3m (OMR70.6m) in 2017, a 0.5% drop compared to corresponding 2016 values, worth $184.7m (OMR71.1m). 

Meanwhile, the firm registered a 45.1% decline in its net profit, which reduced from $21.6m (OMR8.3m) in 2016, to $11.9m (OMR4.56m) in 2017. 

The company's portfolio includes the Sohar 2 and Barka 3 power plants. 

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Construction Week - Issue 751
Oct 13, 2019