Oman Cement Company to obtain bank loan for new cement mill

Oman Cement Company (SAOG) is to obtain a loan from an Omani bank worth US$39 million. The loan will be used to finance a new cement mill at its existing plant. The agreement with the bank is still to be finalised. The cement manufacturer will also appoint two new portfolio managers to handle part of the company’s investments.

In January 2014, FLSmidth announced that it had received an order worth US$38 million to supply milling equipment to Oman Cement’s plant in the Rusayl Industrial Area. The order includes: 150 tph closed circuit ball mill system; 2 x 8000 t capacity cement silos; high-efficiency central drive for the ball mill; dynamic separator; fabric filters to reduce dust emission.

In 2013, Oman Cement Company achieved a profit before tax of approximately RO.17.85 million, compared to RO.19.7 million in 2012. Profit after tax came in at RO.16 million down from RO.17.5 million the previous year.

Adapted from press releases by Louise Fordham

Read the article online at: https://www.worldcement.com/africa-middle-east/04032014/oman_cement_comany_to_obtain_loan_to_finance_new_cement_mill_838/