FINANCIAL NEWS

Oman-Al Anwar inks OMR10.5mn cement firm deal in Duqm

03 May 2017

(MENAFN) Al Anwar Holdings has inked a deal with Hormozgan Cement Co. (HCC), Iran to establish Hormuz Al Anwar Cement SAOC for building a Greenfield cement grinding unit in Duqm.

Moreover, the capacity of the project will range between 600.000-1.000.000 tons per annum, while HCC is a well-known Iran based cement producer with capacity of 2mn TPA.

Additionally, whole investment for the project is projected to be OMR10.5mn with optimal debt and equity mix, while starting of the project will receive approvals from relevant regulatory authorities.

Accordingly, this is a strategic investment for Al Anwar in the industrial sector in the Sultanate and it will create value for shareholders in the long term from the investment.

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MENAFN0305201700450000ID1095447817

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