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FINANCIAL NEWS
Oman’s Al Anwar Ceramic effected with gas prices increase
02 Dec 2014
(MENAFN) Al Anwar Ceramic Tiles Co confirmed that they have been informed by the Public Establishment for Industrial Estate (PEIE) of a 100 percent growth in prices of natural gas supplied to industrial companies, Muscat Daily reported.
Al Jazeera Steel said that it had received a letter from PEIE Sohar stating the decision to raise the gas price by 100 percent with effect from January 1/2015, with an additional increase of 3 percent annually.
“Due to this price increase there would be definite impact on costs for a large segment of Oman’s industries including Al Jazeera. However, we plan to take adequate cost-control measures to mitigate/reduce the effect of this increase,” the company added.
Al Anwar Ceramic announced that PEIE Nizwa has informed the company about the price increase from 20.5bz per standard m3 with effect from January 1/2015 and the 3 percent annual increase thereafter.
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