Oman Cement unveils $300m expansion project
Published: 03:09 PM,Sep 14,2021 | EDITED : 07:09 PM,Sep 14,2021
Oman cement1
BUSINESS REPORTER
MUSCAT, Sept 14
Oman Cement Company (OCC) has announced plans to add a new cement production line with a capacity of 10,000 metric tonnes per day (tpd) as part of a brownfield expansion of its complex at Misfah in Muscat Governorate.
Additionally, the publicly-listed company will raise the capacity of its third production line from 4,000 tonnes to 5,000 tpd. As a result, OCC’s total daily capacity is set to increase to 15,000 tpd.
“The new 10,000 tpd production line will be the largest in Oman and will have better cost-effective production for the company to sustain its success and competitiveness in the local and international cement markets in a long run. The company will focus on utilising state-of-the-art production technology resulting in low power consumption, potential for waste heat recovery, higher fuel efficiency, realisable use of alternative fuels, improved productivity and with best environmental standards,” the company said in a filing to the Capital Market Authority (CMA).
It is also in line with OCC’s to promote self-sufficiency of cement in the Sultanate and reduce its imports. Oman imports about 50 per cent of its needs of cement.
Eng Salem bin Abdullah al Hajri (pictured), CEO, said the estimated cost of the new production line amounts to $300 million, adding that the new line will help Oman achieve cement self-sufficiency by 2024.
Besides offering high quality cement at competitive prices, the new line will also enhance local demand for raw materials such as gypsum, iron ore and commodities, thus opening up new opportunities for SMEs.
The high-tech plant will create employment opportunities for well-qualified and trained Omanis, said the CEO, noting that Omanisation currently stands at 75 per cent, which is well above the Labour Ministry’s minimum of 40 per cent.
OCC has engaged PEG Resources Ltd, Switzerland, to carry out the technical study, tendering and contracting as well as supervision of the project execution.
The government’s 51 per cent stake in Oman Cement, the country’s first cement manufacturer, is held by Oman Investment Authority (OIA), the integrated sovereign wealth fund of the Sultanate.
MUSCAT, Sept 14
Oman Cement Company (OCC) has announced plans to add a new cement production line with a capacity of 10,000 metric tonnes per day (tpd) as part of a brownfield expansion of its complex at Misfah in Muscat Governorate.
Additionally, the publicly-listed company will raise the capacity of its third production line from 4,000 tonnes to 5,000 tpd. As a result, OCC’s total daily capacity is set to increase to 15,000 tpd.
“The new 10,000 tpd production line will be the largest in Oman and will have better cost-effective production for the company to sustain its success and competitiveness in the local and international cement markets in a long run. The company will focus on utilising state-of-the-art production technology resulting in low power consumption, potential for waste heat recovery, higher fuel efficiency, realisable use of alternative fuels, improved productivity and with best environmental standards,” the company said in a filing to the Capital Market Authority (CMA).
It is also in line with OCC’s to promote self-sufficiency of cement in the Sultanate and reduce its imports. Oman imports about 50 per cent of its needs of cement.
Eng Salem bin Abdullah al Hajri (pictured), CEO, said the estimated cost of the new production line amounts to $300 million, adding that the new line will help Oman achieve cement self-sufficiency by 2024.
Besides offering high quality cement at competitive prices, the new line will also enhance local demand for raw materials such as gypsum, iron ore and commodities, thus opening up new opportunities for SMEs.
The high-tech plant will create employment opportunities for well-qualified and trained Omanis, said the CEO, noting that Omanisation currently stands at 75 per cent, which is well above the Labour Ministry’s minimum of 40 per cent.
OCC has engaged PEG Resources Ltd, Switzerland, to carry out the technical study, tendering and contracting as well as supervision of the project execution.
The government’s 51 per cent stake in Oman Cement, the country’s first cement manufacturer, is held by Oman Investment Authority (OIA), the integrated sovereign wealth fund of the Sultanate.