Cement News tagged under: Oman Cement Company

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Oman Cement nine-month net profit declines

15 October 2014, Published under Cement News

Oman Cement Co (OCC) made a net profit of OMR11.4m in the first nine months of 2014, down 8.1 per cent from OMR12.4m in the same period last year, the producer said in a bourse statement on Tuesday. In third quarter alone, the company saw a decline in net profit compared to the same period of last year, according to Reuters calculations. OCC posted a profit after tax of OMR2.3m (US$6m) in the three months to 30 September, versus OMR3.8m in 3Q13, Reuters calculated based on financial stateme...

OCC inks financing agreement for new mill project

01 July 2014, Published under Cement News

The Oman Arab Bank (OAB) has signed new banking facilities to Oman Cement Company (OCC) for its new cement mill No 5 project, including a term loan in addition to letters of credit. The Times of Oman reported that the agreement was signed by Jamal bin Shamis Al Hooti, CEO of OCC and Amin Al Husseini, CEO of the Oman Arab Bank.

Oman Cement to obtain a loan to finance new mill project

28 February 2014, Published under Cement News

Oman Cement has decided to obtain a loan from a leading Omani bank to finance a new mill at its existing plant with an expected expenditure of US$39m. Jamal Shamis Al Hooti, CEO of the sultanate’s second-largest producer, said: “…while our acceptance to the Bank's offer has been communicated, an agreement in this regard is being finalised.” (Source: Muscat Securities Market)

FLSmidth to supply new Oman Cement mill

03 October 2013, Published under Cement News

Oman Cement Company has decided to award the contract for supply and installation of a new cement mill with capacity of 150tph to FLSmidth Pvt Ltd. The company has issued Letter of Intent in this regard and the detailed contract will be finalised soon. Jamal Shamis Al Hooti, Oman Cement's CEO, reports that the project on the Kiln No 1 upgrade is in progress and the kiln is now under shutdown to achieve the higher level of production and better pollution control. The kiln is expected to sta...

Oman Cement output declines on mill setback

02 August 2013, Published under Cement News

Oman Cement posted a 3.1 per cent rise in net profit for the first half of 2013 to OMR9.3m (US$24.2m) compared to OMR9m in the same period a year ago. Sales and output, however, fell partly due to the shutdown of one of its mills due to technical problems. The company produced 1.06Mt in the first half compared to 1.12Mt, 5.23 per cent. Total sales fell 2.6 per cent to OMR27.33m from OMR28.06m a year earlier. One of the company’s 150tph mills was shut for over a month but operations resumed ...

Oman Cement mill grinds to a halt

12 June 2013, Published under Cement News

Oman Cement Company has announced that one of its mills with a capacity to grind 150tph has developed a major technical fault and has had to be closed down. As a result of the outage, the company said that production could drop by as much as 360,000t between June and September if it has to wait for the replacement part. In a statement to the Muscat Securities Market, the firm said that an inspection by a technical expert from the mill's equipment manufacturer stated that the required spare ...

OCC confirms imported cement quality probe, Oman

24 May 2013, Published under Cement News

Oman Cement Company (OCC) has confirmed that the country's Public Authority for Consumer Protection (PACP) has initiated an investigation on the quality of 30,000t of cement imported by the sultanate's second-largest producer. In a filing to the Muscat Securities Market (MSM) on Wednesday, the company said that a team from the PACP visited its premises to inspect the cement it imported and purchased locally and blended with its own cement. According to the OCC filing: "The [PACP] team co...

Oman Cement Company's net profit boosted by higher demand

30 April 2013, Published under Cement News

Oman Cement Company (OCC) achieved a 34.89 per cent advance in net profit as growth in government spending for infrastructure projects drives cement demand. The Sultanate's second-largest cement producer said net income rose to OMR6.94m (US$18m) for the first quarter of 2013. Sales revenue also rose 12.07 per cent to OMR15.65m from OMR13.96m a year earlier. Production soared by 17.24 per cent to 637,269t for the first three months of 2013, from 543,544t for the same period last year. Cl...

Oman: Raysut Cement's profits rise

11 February 2013, Published under Cement News

Raysut Cement Co (RCC), the sultanate's biggest cement producer, announced a 64.1 per cent growth in net profit at OMR24.53m (US$63.7m) for 2012, against OMR14.95m posted for the previous year. The company said its revenue also moved up to OMR92.8m from OMR83.81m , while cost of sales was edged up to OMR62.88m from OMR61.86m. "Net profit of OMR7.7m for the fourth quarter (65 per cent YoY growth), was higher than our estimate of OMR5.9m, as RCC booked an investment gain of OMR1.36m. Exclu...

Oman Cement posts 4Q12 record performance

30 January 2013, Published under Cement News

Oman Cement posted the best quarterly performance in the 4Q12 with sales revenue reaching OMR15.308m (US$39.7m) showing an increase of 31.4 per cent YoY and 11.8 per cent on QoQ. The overall profit after tax for the year ended 2012 stood at OMR17.511m which increased significantly by 37 per cent on year thanks to higher sales and improvement in margins. For the final quarter of 2012, the earnings of the company witnessed a significant jump of 50 per cent YoY and 21.1 per cent on QoQ to OMR...