The Qatar National Cement Company (QNCC) has just started construction works on its project for the establishment of a third cement plant. Qatar’s Crown Prince, Sheikh Tamim bin Hamad bin Khalifa al-Thani, laid the foundation stone for the project.
The new plant, located in Umm Bab, will have a design daily capacity of 4000tpd of clinker and is expected to reach its full capacity in the second half of 2006. The plant will raise QNCC daily production of clinker to 6900t, which will boost the company’s total cement output to 10,800tpd.
In order to partly finance the $160m project, QNCC signed on December 19, 2004 a $120m syndicated loan agreement with Qatar National Bank (QNB), the Commercialbank, the UK Standard Chartered Bank and Bahrain-based Gulf International Bank (GIB).