Suhail Bahwan Group News

Mitsubishi Heavy Industries, Ltd. ("MHI") and the Suhail Bahwan Group ("SBG") have invested in Altaeros Energies, a Massachusetts-based technology company, to support the design and production of its Buoyant Airborne Turbine ("BAT") renewable energy and communication platform. MHI and SBG bring deep strategic expertise in developing and executing large technology projects for industrial and government customers around the world. The Altaeros BAT offers a multi-purpose platform to supply power, telecommunication, and other sensing and security services to remote and off-grid customers. "There are over one billion people that live without access to reliable electricity and three billion who do not have access to the Internet.

Oman's Al Batinah Power Co and Al Suwadi Power Co, which launched twin initial public share offers on Sunday and are owned by the same consortium, will double their profits from 2014 to 2018 as they pay off start-up costs, a top executive said. The firms, whose owners aim to raise a combined 62.7 million rials ($163 million) through the sale of 35 percent of each company, together provide just over a quarter of the electricity for Oman's main power grid - around the capital, Muscat. The companies were required to go public and list on the sultanate's bourse under the terms of their licences, having launched operations in April 2013.

Smit Lamnalco passed a milestone in Oman after celebrating 14‐years of continuous marine and offshore support services with no Lost Time Incident (LTI). The 5,100 day record covers support to Single Point Mooring operations 10 km off Muscat Cove for the Petroleum Development of Oman (PDO). The services, which have run since 1998, are offered by a joint venture between Smit Lamnalco and Omani partner Suhail Bahwain Group. The occasion was marked by a celebration at the Crowne Plaza Hotel in Muscat…