MUSCAT: Oman's Voltamp Energy SAOG has strengthened its expansion strategy in Saudi Arabia by increasing its stake in its joint venture, National Transformer Company, to 80 per cent, securing majority ownership and full management control.
In a filing to the Muscat Stock Exchange dated March 2, 2026, the company said its shareholding in the Saudi-based venture — established in partnership with Al Sharif Group — has risen from 49 per cent to 80 per cent. The move follows what the company described as extensive discussions and will be formalised through amendments to the Articles of Association and Commercial Registration.
The development marks a significant step forward in Voltamp’s previously announced $10 million plan to establish a high-voltage power transformer manufacturing facility in the Kingdom’s Western Region near Jeddah. The project, branded ‘Saudi Voltamp’, is being implemented in phases to meet rising demand from Saudi Arabia’s power sector.
Under the original plan unveiled in 2024, the first phase involves the production of 132 kV transformers at a 27,000 square metre facility, with completion targeted by 2025. A second phase, scheduled for 2027, envisages expanding the site to 45,000 square metres and adding 380 kV transformer capacity.
By raising its equity stake, Voltamp consolidates governance and operational oversight of the venture, positioning itself to accelerate project execution and strengthen accountability. The company noted that the decision enhances customer confidence through improved reliability and management control.
Saudi Arabia represents one of the region’s fastest-growing electricity markets, underpinned by grid expansion, renewable energy integration and major infrastructure projects aligned with Vision 2030. Voltamp’s expanded ownership structure is expected to enhance its ability to compete for large-scale transformer supply contracts and capture emerging opportunities in the Kingdom.
The latest move underscores Voltamp’s broader regional growth strategy and reflects a deepening of industrial ties between Oman and Saudi Arabia, particularly in the energy manufacturing segment.
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