Cement News tagged under: Oman

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Oman Cement Co envisages a series of upgrade plans

08 March 2024, Published under Cement News

Oman Cement ’s decision to set up a new cement plant at Duqm with a capacity of 5000tpd clinker remains under consideration. Simultaneously, the company is upgrading its capacity by debottlenecking and enhancing the existing Line 3 cooler from 4000 to 6500tpd at its existing Muscat plant, which will increase clinker quality and production capacity. In addition, the company decided to connect the power from the 132kV grid station, for which a technical consultant was appointed, and an EPC te...

Prospects for the GCC industry

19 February 2024, Published under Cement News

The Gulf Cooperation Council (GCC) economy has come under pressure from falling oil revenues, but economic diversification is paying off. Moving into 2024, cement market growth is expected across the region, headed by construction projects in Saudi Arabia and UAE, but cement overcapacity continues to overshadow the production base. The GCC cement markets of Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain are poised for growth in 2024, lead by residential and commercial activ...

Oman Cement’s profits swell

22 November 2023, Published under Cement News

In the first nine months of 2023, Oman Cement Co (SAOG) ( Hauxin Cement Group ) earned profit after tax of OMR7.355m (US$19.1m), compared to OMR4.638m in the corresponding period of the previous year, marking growth of 59 per cent YoY. According to the company, it has continued its efforts to overcome the adverse impact of the rise in prices of some major cost elements, and extensive efforts have been made in this direction in the current period, with better cost management and sustained e...

Oman and UAE sign agreement on limestone exports

18 October 2023, Published under Cement News

Oman and the Etihad Rail Co(OERC) have signed an agreement with Emirates Steel Arkan to facilitate the export of raw limestone from Oman to the UAE. According to Gulf News Reporter, OERC will provide logistics solutions for the transportation of 4-6Mta of limestone, which Emirates Steel Arkan plans to import from Oman to its cement factories in Al Ain, UAE. “Our collaboration with OERC enhances our supply chain capabilities by leveraging the railway network that connects both countries,” ...

Raysut Cement appoint a new CEO

29 September 2023, Published under Cement News

Raysut Cement Co has appointed Mr Tarek Talaat as its new CEO.   Mr Talaat has 30 years of experience in the cement sector. He has worked at several leading companies in his career, including Holcim, Arabian Cement and Ras Al Khaimah White Cement. Mr Talaat has   a bachelor’s degree in civil engineering from Cairo University in 1990 and studied financial management at the French INSEAD University before adding an Executive MBA from the Swiss Business School in Zurich, Switzerland.

Oman Cement Co sees net profits rise 32% in 1H23

13 July 2023, Published under Cement News

Oman Cement Co , which is listed on the Muscat Stock Exchange, has achieved a 32.02 per cent increase in net profit for the first half of 2023. According Oman Cement’s financial statement, it achieved annual profits of OMR4.19m for the 1H23, surpassing the OMR3.17m achieved in the 1H22. The company saw revenue growth of 5.13 per cent in the 1H23 and revenue totalled IMR36.76m, up from OMR34.96m in the 1H22.

Abra Holdings offers to raise its controlling stake in Oman Cement

08 June 2023, Published under Cement News

Abra Holdings Ltd (Abra) of Mauritius ( Huaxin Cement Group ) has announced a public offer to acquire an additional 15.42 per cent of the issued share capital of the Oman Cement Co (OCC), a move that would increase the former’s stake in OCC to 75 per cent. The offer opens on 14 June 2023 and closes on 25 June 2023 against an offer price of OMR0.379 (US$0.98) per OCC share. “Abra will contribute to the development of operations at OCC, increase its production efficiency, and enhance i...

Oman Cement appoints Zhu Yaping as new CEO

31 May 2023, Published under Cement News

Oman Cement Co ’s board of directors has approved the appointment of Zhu Yaping as the company’s new CEO with immediate effect. He succeeds Salim Abdullah al Hajri, who retired as CEO of the company. Mr Yaping is a senior executive from Oman Cement’s majority shareholder Huaxin Cement Co, which completed the acquisition of a majority 59.58 per cent stake in Oman Cement. Mr Yaping is a highly experienced professional in the cement industry with more than 30 years of experience and a dist...

Oman Cement sales advance in 1Q23

25 April 2023, Published under Cement News

Oman Cement Co has reported sales of OMR19.5m (US$50.65m) in the opening quarter of 2023, ending 31 March 2023. This compares to OMR16.96m in the same period a year earlier. Net income in the first quarter came in at OMR2.04m, up from OMR0.9m in the first three months of 2022, reports Market Screener. 

Huaxin acquires majority stake in Oman Cement

10 April 2023, Published under Cement News

Oman Cement Company SAOG has confirmed the successful completion of a share purchase agreement between The Investment Authority Company SPC (representing the government’s stake in the cement manufacturer), and Huaxin (Hong Kong) International Holdings Limited. Under the agreement signed last month, Huaxin acquired 59.58 per cent the share capital of publicly traded Oman Cement for a consideration estimated at USD193.1m. The buyer, Huaxin, has assigned its ownership right to Abra Holdings...