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FINANCIAL NEWS
Omani Raysut Cement to rise costs by 3 percent in 2015
01 Dec 2014
(MENAFN) Raysut Cement announced increasing its costs by 3 percent next year due to Oman state plans to introduce higher gas prices from January 1, The Peninsula Qatar reported.
Raysut will try offset the impact of higher gas prices by making other cost reductions, improving efficiency and restructuring its own prices, according to a bourse filing.
Rival Oman Cement also warned that the price hikes, which will increase by an unspecified amount every year for both companies, would add USD5.45 million to its own costs in 2015.
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