Al Wusta’s Duqm cement plant requires project finance

Oman’s Al Wusta Cement is currently looking for project finance from international for its Duqm cement plant project. Total project investment is estimated to be US$85m.

Al Wusta, a joint venture between Oman Cement Co and Raysut Cement Co, is analysing project feasibility studies with the EPC process expected to start in the 4Q18. Procurement talks will begin soon after with equipment likely to be purchased from foreign equipment suppliers, according to Anil, project engineer at Raysut Cement Co.

The joint venture has acquired a 500,000m2 plot in the Duqm Special Economic Zone’s Heavy Industrial Zone on lease for 50 years. The proposed plant has a production capacity of 5000tpd, but an option exists for a 10,000tpd unit.

Construction of the new plant is scheduled to start early next year with completion in the 4Q20.

Cement requirements in the SEZ are currently met through shipments by land and sea from Muscat and Salalah. Surplus output from the project is expected to be exported to GCC markets.