Oman Cement Co envisages a series of upgrade plans

Oman Cement’s decision to set up a new cement plant at Duqm with a capacity of 5000tpd clinker remains under consideration. Simultaneously, the company is upgrading its capacity by debottlenecking and enhancing the existing Line 3 cooler from 4000 to 6500tpd at its existing Muscat plant, which will increase clinker quality and production capacity. In addition, the company decided to connect the power from the 132kV grid station, for which a technical consultant was appointed, and an EPC tender was floated.

Oman Cement has also installed a packing and truck-loading plant to meet the increased demand. Furthermore, a fly ash storage and handling system is being installed to produce fly ash oil well cement and improve environmental initiatives regarding dust emission reduction. Besides, the company decided to install a new municipal solid waste (MSW) and refused-derived fuel (RDF) plant to reduce natural gas consumption and towards its initiative on decarbonisation in line with the country.

Financial result for 2023
Oman Cement Co recently announced its annual financial performance for the year ended 31 December 2023, wherein it has achieved sales of 3.3Mt of cement against 3.45Mt sales during the corresponding period of the previous year, being lower by 149,332t (-4.32 per cent). It includes the export of 14,498t. In value terms, the company achieved a sale of OMR68.426m (US$177.7m) of cement during the year as against OMR66.695m sales during the corresponding period of the previous year, being higher by OMR1.731m (2.6 per cent).

The company produced 2.98Mt of clinker compared to 2.526Mt during the previous year’s corresponding period, which was higher by 453,466t (17.94 per cent). It also produced 3.309Mt of cement compared to 3.462Mt produced in the previous year’s corresponding period, lower by 152,473t (-4.4 per cent).
In turn, the company earned a profit after tax of OMR6.003m, up from OMR5.04m during the corresponding period of the previous year, or OMR 0.962m (19.1 per cent).

In 2023 Oman Cement Co was acquired by Huaxin (Hong Kong) International Holdings Ltd. Following the completion of the acquisition and the takeover requirements by Huaxin (Hong Kong) International Holdings Ltd through its wholly-owned subsidiary, Abra Holdings Ltd, Mauritius, it now holds an aggregate of 64.66 per cent of the equity shares of Oman Cement Co.