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FINANCIAL NEWS
Sohar Aluminum to spend USD3b on capacity increase
25 Apr 2011
(MENAFN) Sohar Aluminum Company CEO, Henk Pauw, stated that the company plans on investing around USD3 billion in increasing its aluminum capacity to 740,000 tons which is twice its current capacity, reported Times of Oman.
Pauw also said that the plan would depend on the Omani government’s provision of additional natural gas. He pointed out that the Ministry of Oil and Gas would take a decision regarding the project before the end of this year.
The CEO added that he estimated the time needed for the completion of the capacity expansion project -if the gas is provided- to be three years.
It is worth noting that Sohar Aluminum Company currently employs 4,928 workers, of which 1,039 are employed directly by the firm, 1,624 working for companies providing support services, downstream units and export handling and 2,265 workers employed indirectly.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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