Oman Cement Company (OCC), a cement manufacturing firm, plans to go ahead with the establishment of an integrated cement project in the Duqm Special Economic Zone (SEZ) with an investment of around $212 million, said a report.
This follows the company’s board approval for the venture, the partly state-owned listed company revealed in a filing to the Capital Market Authority (CMA) last week, added the Oman Daily Observer report.
OCC is going ahead alone in the development of a cement plant in Duqm, a departure from an earlier strategy to set up the project in joint venture with Raysut Cement Company, the sultanate’s largest cement producer.
The company also revealed that the project’s implementation process is being finalised by the company and shareholders will be informed of the progress in due course.
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