Displaying items by tag: Oman Cement

Oman: Oman Cement has registered a new joint-venture company with Raysut Cement to operate in the Duqm Special Economic Zone Authority. The new Company is named Al Wusta Cement Company and it will set up a new cement plant following a feasibility report.

Oman: Oman Cement Company reported a net profit of US$12.2m in the fourth quarter of 2015, a 172% year-on-year rise and a 208% quarter-on-quarter rise. Sales revenues were US$37.7m, a rise of 4% year-on-year.

The company did not provide further details on cement unit sales or prices, but it is possible that the company may have been able to sell a larger-than-expected quantity of cement during the quarter.

Oman: Oman Cement's revenue increased by 4% year-on-year to US$31.6m for the third quarter of 2015. On a quarter-by-quarter basis, its revenue grew by 12.4%. Oman Cement's net profit was US$4.02m compared to US$6.03m in the third quarter of 2014.

Oman: According to Middle East North Africa Financial Network, Oman Cement has reported a more than 40% decline in net profit for the first six months of 2015. Net profit fell to US$14.1m from US$23.6m a year earlier.

Oman Cement's sales revenue declined marginally to US$65.7m in the first half of 2015 compared with US$66.7m in the corresponding period of 2014. Investment and other income fell sharply by 54.1% to US$4.68m from US$10.2m in 2014. As a result, Oman Cement's total revenue fell by 7.7% US$70.9m.

In June 2015, Oman Cement disclosed that due to operational difficulties it had to prolong the shutdown of one of its kilns. The kiln, with 4000t/day clinker production capacity, was closed for planned maintenance, which was to be completed in early June 2015. Oman Cement warned that the prolonged shutdown of a kiln would have an impact on its second-quarter performance.

Oman Cement's total expenses rose by 8.2% to US$55.3m in the first six months of 2015 compared to US$51.2m in the same period of 2014. The Ministry of Oil and Gas had increased the price of natural gas supplied to industrial companies by 100% from 1 January 2015. As such, Oman Cement's gas price was hiked from US$1.5/mmbtu to US$3/mmbtu. The company expects its gas costs to rise by an estimated US$17.2m in 2015.

Oman: According to the Middle East North Africa Financial Network, Oman Cement has said that due to operational difficulties, it has had to prolong the shutdown of a 4000t/day kiln for planned maintenance. CEO Jamal al Hooti said that the closure has resulted in lower production and sales in recent months, which has had an impact on company performance during the current quarter.

Oman: Oman Cement Co has awarded a US$11.3m contract for the upgrade of pollution control equipment at a production line to FLSmidth. "To reduce emission levels, the company has awarded the upgrade work for the pollution control equipment for line 2 to FLSmidth. The company has issued a letter of intent in this regard which has been accepted by FLSmidth," said Oman Cement. In a recent report, Oman Cement said that its project for installing an additional 150t/hr cement mill with supporting infrastructure of cement silos and bulk despatches is in progress and is expected to be completed in the fourth quarter of 2015.

Oman: Oman Cement has reported a 3.7% rise in its net profit for the first quarter of 2015. It made a net profit of US$9.95m in three months that ended on 31 March 2015, up from US$9.61m in the corresponding period of 2014. Oman Cement's first quarter revenue rose by 10.6% to US$41.4m.

Oman: Oman Cement's net profit in 2014 declined by 12.8% to US$34.2m from US$39.2m in 2013. The decline was mainly due to a lower volume of cement sales, lower clinker production and higher volumes of imported clinker. Oman Cement imported higher volumes of clinker to bridge a temporary shortfall due to one of its kilns being closed for capacity enhancement.

The company said that it would consider a joint venture project for setting up a new cement plant after detailed studies. It said that its on-going US$39m project to install an additional 150t/hr cement mill with supporting infrastructure of cement silos and bulk despatches is expected to be completed during the fourth quarter of 2015.

Oman Cement sold 2.01Mt of cement during 2014 compared to 2.1Mt in 2013, a decrease of 1.1%. In value terms, total sales dropped by 2.05% in 2014 to US$133m, from US$136m in 2013. "Market demand for cement in Oman remains good due to continued emphasis on infrastructure development. With the company's well-structured pricing policy, we hope that in spite of stiff competition with other cement manufacturers, particularly from neighbouring countries, the company will continue to do well to retain its market share," said Oman Cement's report.

Oman Cement said that government's decision to double the price of natural gas, effective from 1 January 2015, is bound to have a major impact on its performance in the coming years. "Similarly, restrictions on carrying capacity for road transport of materials will also increase the cost of operations. However, we are committed to meet the challenge by directing our efforts towards better cost management," said the report.

Oman: The Ministry of Oil and Gas (MOG) plans to increase the price of natural gas for Raysut Cement Oman Cement from 1 January 2015. Raysut Cement said that the decision would impact its production by 3% in 2015. The company plans to mitigate the financial impact by implementing cost-reduction enhancement initiatives and restructuring prices. Oman Cement said that it plans to minimise the impact by improved productivity cost-controls and restructured pricing.

Oman: FLSmidth has received an order worth US$38m from Oman Cement Company for the supply of milling equipment for a cement plant located in Rusayl Industrial Area, 60km from Port Sultan Qaboos, Muscat.

The order includes a 150t/hr closed circuit ball mill system that consists of two 8000t capacity cement silos. The scope of supply also includes a high-efficiency central drive for the ball mill and a dynamic separator and fabric filters to reduce dust emissions.

"Infrastructure growth in Oman has created a huge demand for cement. Oman Cement Company are already upgrading their existing production lines and now want to set up a fifth cement grinding unit. FLSmidth has a strong service capability and presence in the Gulf Cooperation Council (GCC) countries and therefore has good relations with the company," said group executive vice president Bjarne Moltke Hansen.

The order will be booked by the Cement division and contribute to FLSmidth's earnings until mid-2015.