New JV formed to exploit limestone and dolomite deposits
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It has been reported that Lhoist Group and Suhail Bahwan Group will form a joint venture to explore and develop limestone and dolomite resources in Oman. Both partners signed an agreement on 18 January 2010.
The Suhail Bahwan Group, headquartered in Oman is almost 50 years old and employs 15 000 people. It is one of the largest corporate houses operating in the Middle East, North Africa and South Asia.
Belguim’s Lhoist Group is more than 120 years old and is the world leader for lime and dolime products, with operations in more than 22 countries.
The new joint venture will be 60% owned by Lhoist Group and 40% owned by Suhail Bahwan Group and will be called Bahwan Lhoist LLC. The JV will be supervised by a board composed of three members each from each group.
Owing to the experience of both groups and the quality of material in Oman, the new joint venture has the potential to become a leading supplier of high quality material to India and the Middle East countries and will significantly contribute to the development of Oman's economy.
Published on 17/02/2010
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