Omani cement consumption is forecast to increase to almost 11 million t by 2023, according to CW Research’s recent update of the Oman Cement Market Report. The increase will be underpinned by growing construction activity, both private and public.
“The improving trend forecast for both consumption and production contrasts with the evolution of the construction sector if the last couple of years,” said CW Group Associate, Raluca Cercel.
“The country’s construction activity declined in 2016 and in 2017 due to the shocks the decline of oil prices had over the sector. However, in 2018, private investments in construction are likely to offset the cut in public investments the government decided on for the 2018 budget. Furthermore, private investors are attracted by the ease of doing business and by the low construction costs in Oman.”
The Omani cement industry is relatively consolidated, comprising two integrated cement plants, two grinding units, and a fifth under construction and expected to begin operations by the end of the year.
Read the article online at: https://www.worldcement.com/africa-middle-east/30102018/omani-cement-consumption-forecast-to-grow-to-2023/