Published by
Joseph Green,
Editor
World Cement,
Reuters are reporting that Raysut Cement, Oman's largest cement producer by market value, has raised production capacity at its plant to 130 000 – 140 000 tpy of cement.
The development will increase the company's profitability. The company’s statement did not mention the factory's previous output capacity.
Oman Cement Company’s initial, unaudited financial results indicate a 12.8% y/y decline in net profit after tax in 2014.
Raysut Cement and Oman Cement have warned their operational costs will increase next year following the Ministry of Oil and Gas’ decision to raise gas prices.
Oman Cement Company is set to invest US$39 million in the expansion of its Rusayl plant, with plans in place for the addition of a new plant.
BankMuscat has agreed to two loans totalling more than OMR25.77 million for the cement manufacturer.