Cement News tagged under: Oman Cement Co

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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...

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...

Oman Investment Authority starts sale of Oman Cement Co to Huaxin

14 March 2023, Published under Cement News

The Oman Investment Authority (OIA) has started the process for divesting its majority stake in Oman Cement Co. Ibrahim bin Said al Eisari, director general of private ownership at OIA, said: “This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to achieving economic diversification and transfer of modern technology to the targeted sectors.” OIA will sell its entire sha...

Oman Cement Co reports OMR4.447m net profit

18 March 2022, Published under Cement News

Oman Cement Co posted a net profit of OMR4.447m (US$11.57m) for 2021, representing a growth in its commercial activities despite the economic impact of COVID-19. Eng Salem Bin Abdullah al Hairi, CEO of Oman Cement, said that these results have been achieved due to a number of policies implemented meet the higher demand and despite the strong competition that was witnessed in the market, not only from local cement companies but also from imported cement brands. In 2021 the company produ...

Oman Cement Co opens tenders for kiln line No 4

11 January 2022, Published under Cement News

Oman Cement Company (OCC) has floated a tender for the construction of its fourth cement production line in the sultanate of Oman and to upgrade its third kiln line. The fourth line will have a clinker capacity of 10,000tpd, whereas the third line will be upgraded from 4000 to 5000tpd of clinker production. Salem Abdullah Al Hajri, CEO of OCC, said, "This tender has been floated for local companies operating in the Sultanate of Oman as part of OCC’s interest in enhancing the added...

Oman Cement increases conveyor capacity

01 December 2021, Published under Cement News

Oman Cement Co has increased the capacity of one of its conveyor belts from 150 to 250tph. The increase of the conveyor that transports cement from the cement mill to the silo was achieved by EPC specialist Synergy International FZE, who was responsible for project planning, procurement and construction. Synergy International FZE specialises in mechanical power transmission and bulk material handling, wear protection and dedusting systems, as well as ball mill optimisation and automated fl...

Oman Cement reports flat net profit in 9M21

14 October 2021, Published under Cement News

Oman Cement has posted a net profit after tax of OMR2.8m (US$7.28m) in the first nine months of the year, which is flat compared to OMR2.8m seen in the year-ago period. Total revenue for January-September 2021 was down 9.3 per cent YoY to OMR35.3m from OMR38.9m in the 9M20.

Oman Cement sees 9% decline in 1H20 profit

16 July 2020, Published under Cement News

Oman Cement Co has reported an 8.7 per cent decline in net profit after tax to OMR2.1m (US$5.46m) for the first half of 2020, compared to OMR2.3m in the 1H19. However, the company’s total revenue edged up 1.1 per cent to OMR26.4m from OMR26.1m.

Oman Cement Co sees 27% fall in profit

25 June 2020, Published under Cement News

Oman Cement Co has posted a 26.7 per cent fall in profit after tax to OMR1.1m (US$2.86m) for the first quarter of 2020, compared to OMR1.5m in the 1Q19. The company’s total sales saw a modest 1.5 per cent YoY decline to OMR13.6m from OMR13.4m.

Oman Cement sees net profit decline 45% in 2019

16 January 2020, Published under Cement News

Oman Cement has recorded a 45.3 per cent fall in its net profit to OMR4m (US$10.4m) for 2019, compared to OMR7.3m in the previous year. Total revenue also declined four per cent YoY to OMR50.12m from OMR52.19m.