Displaying items by tag: Oman Cement

Oman: Oman Cement’s net profit for the first half of 2020 was US$5.39m, down by 9.9% year-on-year from US$5.98m in the first half of 2019. Sales rose by 1.1% to US$68.6m from US$67.9. The results are subject to approval by the audit committee and board.

Oman: Oman Cement subsidiary Al Sahawah Cement has said that the deadline for bids for two tenders for engineering, procurement and construction (EPC) of its new Duqm integrated cement plant’s 5000t/day kiln lines and mill. The Oman Daily Observer newspaper has reported that Al Sahawah Cement will commission the grinding plant in September 2021, with full commissioning of the integrated plant to follow in March 2022. The company is also tendering for bids for a third EPC contract for the supply and installation of a 30MW waste heat recovery (WHR) power plant. The entire plant has a cost of US$212m.

Oman: Cement producers have reacted positively to anti-dumping measures implemented by the Ministry of Commerce and Industry. The Oman Observer newspaper has reported that the measures, which consist of quality screening, have, since coming into force on 1 March 2020, been ramped up in construction, with a general restriction of the movement of goods due to the coronavirus. Raysut Cement said, “These measures will enable Raysut Cement and our peers Oman Cement to operate at full capacity. We hope that the authorities will continue to strictly enforce this measure in the interest of fair market competition.”

Raysut Cement said that it is ‘Aggressively pushing ahead’ with its US$30m Port of Duqm grinding plant project, which is due for commission in March 2021. “It is a good time for countries like Oman to become self-sufficient in the domestic availability of a strategic commodity like cement,” it said. On 4 May 2020 Raysut Cement announced plans to lobby the government for a gas or electricity subsidy.

Oman’s cement demand is currently 20-25% below pre-lockdown levels.

Oman: Oman Environmental Services Holding Company (Be'ah) has signed an agreement with Oman Cement Company, in which Be'ah will supply expired tyres to the cement producer for use as an alternative fuel.

The agreement was signed by Eng Tariq bin Ali al Amri, CEO of Be'ah, and Eng Salem bin Abdullah al Hajri, CEO of Oman Cement Company. Eng Hajri reported that the agreement will contribute to the national economy, diverting 30,000t of waste tyres from landfill.

Oman: Alsahawa Cement Company (ACC), the newly-founded Oman Cement Company (OCC) subsidiary, will operate the group’s upcoming Duqm cement plant, for which an engineering, procurement and construction (EPC) contract tender has been issued. Bidding is due to close on 27 February 2020.

The new facility will include a coal-fired power plant and waste heat recovery (WHR) power plant. OCC Chief Executive Officer Salim Abdullah Al Hajiri described the commissioning of the 1.7Mt/yr integrated plant as a ‘reverse integration’ process, whereby the plant will initially grind clinker produced at other OCC cement plants beginning in September 2021 before upgrading to fully integrated cement production in March 2022.

Oman: Oman Cement Company has appointed Fatick Hussain Al Balushi as its chief financial officer (CFO). Fatick holds over 15 years of experience in the oil and gas and petrochemical industries. He worked for the Oman Oil Company and its subsidiary, the Salalah Methanol Company, in a variety of roles including financing manager for the ammonia project, head of finance and information technology (IT) and finance director. He is an alumni of the Sultan Qaboos University in Oman and the University of Leicester in the UK.

Oman: Oman Cement has engaged the services of a leading consulting company for construction of its 1.8Mt/yr integrated cement plant in Duqm. The company announced the appointment of the consultancy firm to its US$212m project, which has been ongoing since December 2018, on 12 September 2019.

Oman: The board of directors of Oman Cement has agreed to move ahead with the construction of an integrated cement plant at Duqum. The unit will have a clinker production capacity of 5000t/day and an expected investment of US$212m. The project is being financed by the company and its shareholders. Previously the project was linked to Raysut Cement as a joint venture run under the Al Wusta Cement brand.

Oman: Oman Cement has launched a new brand identity and logo. The changes to its marketing are intended convey its strong brand value proposition that is synonymous with quality, strength and reliability, according to the Muscat Daily newspaper. The new brand identity is hoped to help the company’s sales and market share.

Oman: Raysut Cement has been added to a list of Sharia-compliant companies for the second quarter of 2018 compiled by the Muscat Securities Market. It joins Oman Cement, which was listed in the first quarter of 2018, according to the Oman Daily Observer newspaper. The list includes 31 publically listed companies that conform to the requirements of Islamic Sharia according to the rules approved by the Accounting and Auditing Organization for Islamic Financial Institutions, Companies on the list cover a cross-section of industrial sectors.