Oman Cement puts US$250m project on hold

Oman Cement puts US$250m project on hold
04 May 2021

Oman Cement Co has reportedly put its US$250m Duqm plant project on hold, pending confirmation of fuel availability.

"The company's decision to set up a new cement plant at Duqm with a capacity of 5000tpd of clinker has currently been put on hold pending confirmation of the availability of fuel and its strategic decision to expand capacity of its existing plant in Muscat," said the company.

In March, the company had received bids from EPC contractors and appointed a project consultant for the plant.

Oman Cement saw cement sales fall 18 per cent YoY to 569,920t in the first quarter of 2021, compared to 699,963t in the year-ago period. In its report, the company noted that intense competition due to lower cement prices remained a major challenge.

Published under Cement News