Qatar National Cement Co. (QNCD.DO) and France’s FCB-Ciment have signed a protocol to establish a new cement plant to help meet rapid urban expansion in the tiny Gulf state.
The new plant, Qatar’s third, is expected to enter operation around the fourth quarter of 2005 and will produce some 4,000tpd. The project, set to cost 581m Qatari riyals, will almost double the country’s current cement output of 4,800t . An official wouldn’t say what the financial terms between the two would be.
A final agreement is expected to be signed by mid-June, and the first mill should start production around 17 months after that.
Qatar’s minister of energy and industry, Abdullah bin Hamad Al Attiyah, attended the protocol signing event with France’s commerce minister, Francois Loos.