Qatar National Cement Co 1Q13 sales edge ahead

Qatar National Cement Company (QNCC) reported a net profit of QAR118.6m (US$32.6m) for the first three months of this year, slightly ahead on the QAR117.9m recorded in the same period of last year.

Earnings per Share (EPS) amounted to QR 2.42 as of March 31, 2013 versus QR 2.40 of the same period in 2012.

Qatar National Cement  Co (QNCC) is the state’s dominant producer with a 70 per cent market share. The company operates four production lines located at Umm Bab, 82km from Doha on the west coast.

The company has set its sights on increasing capacity and enabling Qatar to become self-sufficient in cement supply in the near future. In August 2012 it launched an international tender for its fifth line, which will see capacity expand by 5000-7500tpd. In November 2012 it appointed Belgium-based Basse Sambre as project consultants. The new line would begin in 2015 taking the total production capacity to 21,000tpd (6.6Mta) and meet the growing demand for cement consumption during the same period.