Voltamp Energy Gains Control of Saudi Joint Venture: Implications for Business Growth in the Gulf Region
MUSCAT: Voltamp Energy SAOG has reinforced its expansion strategy in Saudi Arabia by increasing its stake in the National Transformer Company joint venture from 49% to 80%, achieving majority ownership and complete management control.
In a filing to the Muscat Stock Exchange on March 2, 2026, Voltamp indicated that this enhancement in its shareholding, in collaboration with the Al Sharif Group, follows extensive discussions. The adjustment will be formalized through amendments to the Articles of Association and Commercial Registration.
This development is a crucial advancement in Voltamp’s previously disclosed $10 million initiative to launch a high-voltage power transformer manufacturing facility in the Western Region of Saudi Arabia, near Jeddah. The project, named ‘Saudi Voltamp,’ is being executed in phases to address the growing demand from the country’s power sector.
The initial phase of this project, announced in 2024, focuses on the production of 132 kV transformers within a 27,000 square metre facility, with expected completion by 2025. A subsequent phase, set for 2027, aims to expand the facility to 45,000 square metres and introduce 380 kV transformer capabilities.
By increasing its equity stake, Voltamp solidifies its governance and operational oversight of the venture, positioning itself to expedite project implementation and enhance accountability. The company emphasized that this decision boosts customer confidence through improved reliability and enhanced management control.
Saudi Arabia is recognized as one of the region’s rapidly growing electricity markets, supported by grid expansion, renewable energy integration, and significant infrastructure projects aligned with Vision 2030. Voltamp’s strengthened ownership structure is anticipated to improve its competitiveness for large-scale transformer supply contracts and capture emerging opportunities in the Kingdom.
This recent development highlights Voltamp’s broader regional growth strategy and reflects the strengthening industrial ties between Oman and Saudi Arabia, particularly within the energy manufacturing sector.
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s Voltamp Energy SAOG has strategically elevated its position in Saudi Arabia by securing 80% ownership of National Transformer Company, enhancing its ability to capitalize on the burgeoning Saudi electricity market. This move not only mitigates management risks but also opens up new avenues for contracts in a rapidly evolving energy sector, driven by Vision 2030 initiatives. Investors and entrepreneurs should consider aligning their strategies with regional partnerships and innovations to leverage the anticipated growth and stability in energy manufacturing.
