Oman Cement Co 1Q16 profits up

Oman Cement Co 1Q16 profits up
04 May 2016

Oman Cement Company has reported a profit after tax of OMR3.84m (US$9.97m) during 1Q16 as compared to OMR3.83m in corresponding period last year - showing a minor growth of 0.28 per cent. The company recorded a total sale of OMR15.8m in the three months ended 31 March 2016 as compared to OMR14.68m in the corresponding period of previous year.

Meanwhile, the company says its new cement mill currently under construction at its Ghala-Rusayl complex, in northeastern Oman, is expected to be operational by the end of May 2016.

Dr Abdullah Abbas Ahmed, chairman of the board of directors, said in a media statement that the 150tph capacity mill, along with supporting infrastructure of cement silos and bulk dispatch facilities, are currently in the final stages of completion. At the same time, a contract for the upgrade of the pollution control equipment attached to Kiln No 2 is expected to be completed during the fourth quarter of this year.

The contract, valued at US$11.3m, is being executed by FLSmidth, Dr Ahmed said. The total current production capacity of Oman Cement Company is 2.4Mt.

Published under Cement News

Tagged Under: Oman Cement Company 1Q16 Oman