Oman Ce­ment’s $212mn plant to come up in Duqm

Muscat Daily - - FRONT PAGE -

The project im­ple­men­ta­tion process is be­ing fi­nalised by the com­pany and share­hold­ers will be kept in­formed of the progress

Oman Ce­ment Com­pany has de­cided to go ahead with set­ting up a new in­te­grated ce­ment plant in Duqm area with a total in­vest­ment of about US$212mn.

‘We are pleased to in­form that the board of di­rec­tors of Oman Ce­ment has agreed to go ahead with set­ting up of a new in­te­grated ce­ment plant in Duqm area. The plant will have a ca­pac­ity of pro­duc­ing 5,000 tones per day of clinker and en­vis­ages an in­vest­ment of about US$212mn’, Oman Ce­ment said in a fil­ing to the Mus­cat Se­cu­ri­ties Mar­ket.

Oman Ce­ment said that the project im­ple­men­ta­tion process is be­ing fi­nalised by the com­pany and share­hold­ers will be kept in­formed of the progress of the project in due course.

In its re­cently re­leased fi­nan­cial re­port for the third quar­ter

of 2018, Oman Ce­ment had said that it re­ceived the fea­si­bil­ity study re­port on Al Wusta Ce­ment project from the con­sul­tant ap­pointed for the purpose and the same was un­der con­sid-

er­a­tion of the board of di­rec­tors.

In Oc­to­ber 2017, the Spe­cial Eco­nomic Zone Au­thor­ity at Duqm (SEZAD) had signed a usufruct agree­ment with the Al Wusta Ce­ment to es­tab­lish a

ce­ment plant in Duqm. Un­der the usufruct agree­ment, Al Wusta Ce­ment re­ceives a 500,000sqm land to es­tab­lish the ce­ment plant for 50 year­renew­able du­ra­tion.

Oman Ce­ment Com­pany’s new plant in Duqm will have a ca­pac­ity of pro­duc­ing 5,000 tones per day of clinker

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