Bank Sohar and Oman Cement Company have signed an agreement for a term loan facility for OMR20m to part finance the company’s expansion projects. Oman Cement Company’s team led by Sayyid Qahtan bin Yarub al Busaidy, Chairman included its directors Ali Mohammed Redha al Haj Jaffer, Hamdan Mohammed al Wahaibi, CEO Jamal bin Shamis al Hooti and CFO Deepak Dikshit.
"This agreement brings together one of the oldest companies in Oman working together with the newest bank in the country. Oman Cement Company has been an early pioneer in the country’s efforts to be self-reliant. Since 1983, the company has been an integral part of the overall development witnessed in Oman and has contributed in full measure to the building of Oman’s infrastructure, its industries, its commercial facilities and housing.
"This is a significant and prestigious agreement and Bank Sohar has a dedicated unit for handling government related businesses. This unit is tasked with bringing the best banking services for the unique needs of government departments, ministries and government-owned companies.