The Ras Al Khaimah based Gulf Cement Company (GCC) has registered a profit of AED 502.49 million during the year 2005, up from AED 186.74 million in 2004.
Speaking at the annual general meeting of the company held at Hotel Hilton here today, Sheikh Omar bin Saqr Al Qasimi, Chairman of GCC, said that the company will be rolling out an ambitious expansion plan that would double the company’s total capacity from the present 2.5Mta to 5Mta soon.
He said that the construction of the new production line as part of the capacity expansion is already underway.
"In addition, we will be setting up two new clinker mills which will have a capacity of 1.5Mta", Sheikh Omar added.
He also said that the company was planning to enter new markets in Sudan, Kuwait and Saudi Arabia and added that at present around 90 per cent of the company’s total production was sold in the local market.