Established in 1947, Mitsui is today one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 137 offices in 66 countries as of April 1st, 2018. Mitsui is actively taking on challenges for global business innovation around the world, with total assets of about (as of March 31st, 2019). Mitsui is listed on the Tokyo Stock Exchange with about 98.2% of its outstanding shares listed.
Mitsui has several decades of IPP experience with a significant presence in the IPP space in most geographical regions, including the Americas, Asia-Pacific, Middle East, Africa and Europe across all fuel types. Mitsui owns a gross power generation capacity of 34 GW with a net capacity 9.3GW as of January 2018. Of this, 26% of its capacity is based in the Middle East.
Mitsui has a longstanding relationship with Oman dating from 1979 and has been contributing to economic and industrial development in Oman through various projects. Mitsui has a notable track record in the upstream oil and gas sector in Oman through its participation in onshore oil and gas production, the Oman LNG project, and the Liwa Plastics Industries Complex.
Mitsui’s other experiences in the sector in the region include its successful operation of the Ras Laffan C IWPP (2,7GW) in Qatar, and the Amman East IPP (400MW) and IPP4 (241MW) in Jordan.
ACWA Power is a developer, investor and operator of a portfolio of power generation and desalinated water production plants currently with presence in 10 countries including in the Middle East and North Africa, Southern Africa and South-East Asia regions. ACWA Power’s portfolio, with an investment value in excess of USD30 billion, can generate 22+ GW of power and produce 2.7 million m³ /day of desalinated water to be mostly delivered on a bulk basis to state utilities and industrial majors.
ACWA Power, registered and headquartered in the Kingdom of Saudi Arabia, is owned by seven Saudi conglomerates, Sanabil Direct Investment Company (owned by the Public Investment Fund of Saudi Arabia), the Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group).
ACWA Power also owns projects of over 21.2GW of power generation and 2.7 million m³ per day of desalinated water production plants and operates them through its wholly-owned subsidiary NOMAC. Through NOMAC, ACWA Power ensures that the best practices and expertise in operation and maintenance are brought in into all its assets while ensuring reliable and stable operations at very high levels of performance. NOMAC also acts as the subcontractor to the Operator, Dhofar O&M Company.
Established in 1987 and one of the largest investment companies in the Sultanate of Oman, DIDIC has made significant contributions to the economy of Sultanate, especially the Dhofar governorate. Since its inception DIDIC focused on diversification of its activities to cover various economic fields, and accordingly established a bank in Oman, a financial services company, insurance company and Tourism Company, it played an essential role in the development of Dhofar University and Salalah Port Services. Also, the company has an important role in the inception of factories and industrial plants in the Sultanate. DIDIC has paid-up capital of OMR24.64 million with total assets of OMR230 million and is listed in the Muscat Securities Market.
Mitsui, ACWA Power and DIDIC together also developed the 3,319 MW Sohar-3 IPP Ibri power generation scheme which consists of two natural gas-fired cycle power plants of 1,710 MW and 1,509 MW respectively at Sohar and Ibri in the country’s north.