Qatar National Cement seeks US$120m loan for new plant

Qatar National Cement seeks US$120m loan for new plant
Published: 06 May 2008

Qatar National Cement Company (QNCC) will negotiate a US$120m loan to finance the ongoing construction of Cement Plant 4 and other projects currently underway, the company said in a statement to the Doha Securities Market (DSM) on May 5, 2008.
 
In 2006, QNCC and French Fives FCB (formerly FCB Ciment) finalised an QAR800m (US$219.8m) contract for the construction of QNCC’s fourth cement plant. FCB Ciment, which also constructed QNCC’s Plant 3, is building Plant 4 on a turnkey basis with a 5,500tpd capacity.
 
On completion of Plant 4, QNCC’s total capacity will be 11,900tpd clinker and 15,500tpd cement.
 
Plant 4 will be the permanent solution to the demands of the nation’s unprecedented construction boom, the company said.