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LG International's JV listed on Omani stock market

LG International Corp. said Monday that its joint venture with Oman Oil Co. has been listed on the Omani stock market, a move that helped the South Korean developer of natural resources recover part of its investment in the JV.

Musandam Power Co. debuted on the Muscat Securities Market on Thursday.


LG International said it retains an 18 percent stake in Musandam Power after selling a 12 percent stake worth $6.9 million.

In addition, LG International said it earned revenue through operation of the 120-megawatt power plant in Musandam, which began in 2017.

The moves helped LG International recover all of its $11 million investment in Oman. (Yonhap)