Oman Cement to increase output to 3 million tonnes
Increasing demand in Oman and across the GCC region has prompted the company to increase production by 88%.
Oman Cement Company plans to increase production by 88% to 3 million tonnes to meet increasing demand in the country and the GCC region.
The majority state-owned cement company achieved a massive 71% increase in net profits to US $12 million (OR2.74 million) for the first quarter of 2005.
But production declined to just over 405 000 tonnes
during the first three months of this year, compared to more than 412 000 tonnes a year previously.
Current output stands at around 1.6 million tonnes
It meant that the company has been forced to import more than 41 000 tonnes to meet soaring demand in the country.
The Omani government recently reduced its stake in the company to 51%, after releaseing 12.5% through an initial public offering last year.