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FINANCIAL NEWS
Oman’s Al Anwar Ceramic plans second expansion
06 Sep 2012
(MENAFN) Oman’s Al Anwar Ceramic Tiles unveiled plans to expand its production facilities in Nizwa, as the company seeks to further boost output capacity, Times of Oman reported.
This decision to expand the capacity, at an estimated cost of USD12.95 million, comes after an earlier expansion plan which began production in May this year.
The expansion plan will include a new production line with an output of about 3.5 million sq m per annum, bringing the total output capacity to about 17 million sq m per annum.
Al Anwar’s output capacity reached six million sq m of tiles during the first half of this year, with gross sales revenue of about USD28 million, and a pretax profit of USD9.6 million.
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