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FINANCIAL NEWS
Oman, AACT sign expansion deal
15 May 2011
(MENAFN) Al Anwar Ceramic Tiles Company (AACT) Financial Controller, A Suresh, stated that the Omani government agreed to provide AACT’s USD22.01 million expansion project with additional natural gas, reported Times of Oman.
Suresh also said that the expansion project was aimed at hiking AACT’s production capacity to 13 million square meters per year, around three times its current rate.
The Financial Controller added that the project was already under way as civil work had started as well as equipment orders which had been finalized.
It is worth noting that AACT is a Niza-based ceramic tiles company which is most famous in the Omani ceramic tiles market for its Al Shams brand.
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