The puzzle of Oman Cement
One would think that there would be a premium on cement in the Middle East with the volume of ongoing construction. Such was the demand, that the Omani government banned export of locally produced cement in 2004. The only two cement factories in Jordan, owned by the Jordan Cement Factories Company (JCFC), increased their prices by 25% in April, to cover increasing costs at the two plants.
A Gulf News report at the beginning of May showed that, ironically, cement stocks fell across in Kuwait and the UAE, because quarterly results from cement companies were disappointing. It seems that these companies are investing in the local stock exchanges as well as producing cement.
Now that Consolidated Contractors Oman, a subsidiary of the Saudi family firm, CCC, have won the contract to build the Wadi Dayqah surface dam, one would expect the demand for cement to rise even further in the Sultanate.
A Gulf News report at the beginning of May showed that, ironically, cement stocks fell across in Kuwait and the UAE, because quarterly results from cement companies were disappointing. It seems that these companies are investing in the local stock exchanges as well as producing cement.
Now that Consolidated Contractors Oman, a subsidiary of the Saudi family firm, CCC, have won the contract to build the Wadi Dayqah surface dam, one would expect the demand for cement to rise even further in the Sultanate.
