Oman’s cement industry looks set for growth

Due to an increase in the size of Oman’s infrastructure budget for 2013, it looks likely that this will be a year of increased growth for the cement industry in the Sultanate.

Of the country’s total budget for 2013, OMR600 million has been tagged for roads and other infrastructure projects. This figure is in addition to several large projects that are already underway, such as the Muscat and Salalah airport projects and the Batinah expressway.

According to the Minister for financial affairs, Mr Darwish Ismaeel al Balushi, this expenditure is geared towards the completion of the airports, ports, roads and the development the industrial estates, water and wastewater projects that are just taking off. He also commented that the funds are required for “the liquidity necessary for implementing the development projects planned to commence at the year 2013.”

Overall, the value of Oman’s construction sector is expected to grow to grow at a level of over US$5 billion over the next 3 – 4 years at an average growth rate of 6%. This construction sector growth led to double-digit growth in the revenues of Raysut Cement and Oman cement in 2H12. The domestic demand for cement itself is expected to register a CAGR of 5% from 2012 – 16.

Edited from news source by Jack Davidson.

Read the article online at: https://www.worldcement.com/africa-middle-east/14012013/oman_cement_industry_growth_forecast_830/