Qatar’s cement imports increase
The Qatar National Cement Company (QNCC) has decided to increase the import of cement. Three consignments aggregating to over 60,000t each are expected to reach Doha next month. Qatar mainly imports cement from the India. However, with the ongoing monsoon season imports from the West coast of India are unlikely to commence until the end of the monsoon season some three moths away. QNCC¹s first shipment of 16,000t is expected in the first week of July, from Egypt, followed by two other consignments of 23,000 tons each from Indonesia. Apart from QNCC, a private property building firm has also imported 40,000t of cement. Qatar¹s cement shortages however, are unlikely to completely go away until resumption of imports from India.
Qatar National Cement Company realises profit of QAR 97.3mn in H1/2004. Qatar National Cement Company (QNCC) has earned a net profit of QAR 97.3mn in H1/04 as compared to a profit of QAR 84.3mn in H1/03. QNCC chairman, Salem Butti Al Nuaimi, also announced an interim dividend of 30 per cent to shareholders. The dividend will amount to a cash outgo of QAR 38mn. QNCC is planning to expand capacity at a cost of QAR 581mn. QNCC has already released QAR 100m to the French firm FCB Climent that has been appointed for the expansion project.
