Displaying items by tag: special economic development zone

Oman: The Special Economic Zone Authority of Duqm (SEZAD) has signed a usufruct agreement with the Al Wusta Cement Company to establish a cement plant in Duqm. As per the terms of the deal the Al Wusta Cement has received a 500,000m² plot in the zone for a duration of 50 years, according to the Oman News Agency. The new cement producer is a joint venture between Oman Cement and Raysut Cement.

Al Wusta Cement plans to start building the plant in 2018 with production scheduled for 2020. The unit will start with a production capacity of 5000t/day before raising this to 10,000t/day, subject to market demand.

Oman: Tanfeedh, the National Programme for Enhancing Economic Diversification, is calling for captive coal power stations to be used to support new cement plants that are being planned for the Duqm special economic zone. The programme wants two Ordinary Portland Cement plants and a white cement plant to be built in the zone to reduce imports, according to the Oman Daily Observer newspaper. It also wants investors to build one cement grinding plants in Duqm and one in Suhar. Tanfeedh says that the country used 9Mt of cement in 2015 but that only 44% came from local producers.

China: A new special economic development zone in the north of Hebei province is expected to significantly boost demand for cement in the region. President Xi Jinping announced that that the new development named Xiongan New Area would be built southwest of Beijing, according to the ET Net News Agency. The development will be on the same scale as Shenzhen and Shanghai Pudong. Using these previous projects as a benchmark HSBC Global Research estimated that Shanghai Pudong uses around 6Mt/yr and that the region had used 133Mt since its creation in the early 1990s.

BBMG’s shares spiked following the announcement. The largest cement producer in the Beijing-Tianjing-Hebei area is widely expected to benefit from the project. After its restructuring with Jidong Cement it will hold 57% of cement production capacity in the region.