Oman: The Oman Cement Company has reported that a dispute with a contractor has been settled. The company has received a settlement of US$7.81m from an unnamed contractor who was implementing a new clinker production line.
The compensation included US$110,000 towards another contract for an alternate belt conveyor. The clinker plant has been commissioned and commenced commercial production in 2011. The company had raised a compensation claim on the contractor for certain project-related issues. Similarly, the contractor had also raised claim for additional payment for some of the project activities. Oman Cement stated that further details will be disclosed in its next financial statement.