Oman's state-owned Electricity Holding Co (EHC) aims to raise OMR200 million (USD520 million) in long-term loans to finance two of its units, its top official said on Monday. The company, which holds the government's stake in nine companies engaged in the generation, transmission and distribution of electricity and related water services, will use the funds to support Majan Electricity Co (MEC) and Dhofar Power Co (DPC), the executive said. EHC had previously depended on short-term loans but started targeting longer-term borrowings from banks last year, Omar Al-Wahaibi - chief executive said, speaking after three sources aware of the matter told Reuters MEC was seeking a 10-year amortising loan which would effectively mature in seven years. The loan transaction was indicated to carry an interest rate in the region of 3.5 percent above the London interbank offered rate (LIBOR) and could close as soon as the end of March, the sources added. (Reuters)