$24.7m plant opened
The Omani-European Food-Processing Company (OEFPC) has opened its RO9.5 million ($24.7 million) factory at the Sohar Industrial Estate. OEFPC board chairman Jameel bin Ali Sultan said the factory had an annual capacity to produce 2,759 tonnes of cereals and 2,150 tonnes of biscuits, the Oman Daily Observer reports. The production facilities lie in an area of 7,500 sq m. The company will obtain 70 per cent of the raw material locally, the chairman said.
Hankook launches new range
Korean tyre manufacturer Hankook launched its new tyres in association with local distributor Imalco at a ceremony held in Doha recently. Hankook makes 40 million tyres annually and has a turnover of over $1.1 billion. The Korean tyre major is aiming to become the world's fifth-largest tyre manufacturer within the next five years, a company spokesman said. Hankook has a market share of 6 per cent in Qatar.
$137m Doha industrial city deal
Qatari Minister of Energy and Industry Abdullah bin Hamad Al Attiyah has signed the first contracts for a new $137 million industrial city for small- and medium-scale industries that will come up 15km west of the capital Doha.
Attiyah signed four contracts worth a total of QR148 million ($40.7 million) with three local firms for the construction of roads.
He said three more contracts worth about QR80 million would be awarded this month for power, water and gas projects. The minister said the city, to be built within the next five years, would cost QR500 million and cover an area of 11 sq km with roads, utilities and other necessary facilities provided. He added that a QR300 million project to develop the existing industrial city of Mesaieed
DFICO in deal to buy new vessels
Oman's Dhofar Fisheries Industries Company (DFICO) has signed an agreement with Mazoon Navigation and Supply Company (MNSC), an arm of the WJ Towell Group, for the purchase and bare-boat charter of two fishing vessels. The company plans to go in for two more such vessels next year, the Oman Daily Observer said.
The two vessels will be used at the company's tuna and sardine processing project in Salalah, which is likely to begin trial production next month, said DFICO general manager Salim Tamaan Musallam Al Mashani. The $37 million Salalah plant is said to be the first of its kind in the Sultanate and one of the largest in the region. The plant, set up on an extensive 10,000sq m plot, has an annual capacity of 22 million cans of tuna, 27 million cans of sardine and 1,800 tuna loins.
The plant has been granted fishing licences for a total of 16,000 tonnes by the Ministry of Agriculture and Fisheries.
New product lines
Saudi Pan Gulf-UBMO has said it plans to launch a number of new product lines over the next yearÑboth mechanical/HVAC/industrial-related as well as new architectural finishing products. The company is a supplier of a wide range of high-quality mechanical, HVAC (heating, ventilation and air-conditioning) and architectural finishing materials.
"Saudi Pan Gulf-UBMO continually introduces quality products into the market," Gulf Construction magazine quoted general manager Paul Gent as saying.
"Over the past few years our range of products has been broadened considerably, enabling clients to procure the majority of their material requirements from a well-known and trusted source. New products are supported with specialised, trained personnel," he said. The company was established in 1979 and now has seven branches in Saudi Arabia.
Sabic to set up polymer plant
Saudi Basic Industries Corporation (Sabic) is considering setting up a polymer plant in Iran through an agreement with the National Petrochemical Company (NPC), it was reported. "We would be interested in plant ownership opportunities," as part of Sabic's ambitions to expand, either through strategic alliances or acquisitions, Sabic's polymers group president Fahad Al Sheaibi was quoted as saying in the Gulf News.
"We already have a good business relationship with NPC through product swaps and marketing arrangements, and have for some time been in dialogue with Iran about joint co-operation in chemical facilities," he said according to the report.
Al Sheaibi was speaking on the sidelines of the three-day Dubai Plast Pro 2001, a plastics processing and applications congress. No concrete proposal has been made yet, and key details such as feedstock prices and operational facilities must be decided. Al Sheaibi earlier dismissed "rumours" about Sabic's ambitions to acquire a European company.
"Like other global players, we are looking at striking up strategic alliances, but talk about any acquisitions in Europe is mere market speculation," Gulf News quoted him as saying.
However, he stressed the need for further consolidation, saying there is room
FCIC to complete $13.6m plant
Fujairah Cement Industries Company (FCIC) expects to complete a new Dh50 million ($13.6 million) project in June aimed at cutting production costs. Company sources, quoted by the Gulf News, said UAE cement companies did not report good business last year for several reasons including stiff competition, which led to a drop in prices to less than Dh105 per tonne.
"The cement production business was also affected by the drop in clinker prices worldwide, down to $22 per tonne, and by imports at competitive prices," the source said. It said FCIC's clinker production rose to 1.1 million tonnes from 805,000 tonnes in 1999. Cement production also rose to 1.1 million tonnes from 895,000 tonnes. Sales offtake increased to around 1.1 million tonnes from 931,000 tonnes, but prices dropped 30 per cent to Dh114 per tonne from Dh162 per tonne in 1999, leading to turnover sliding to Dh131.5 million from Dh151.4 million.
The company, set up in 1979, started active operations in 1983. Its cement and clinker are also exported to Qatar, Kuwait, Oman and East Asia.
Sanitary ware products launched
Muscat Municipality president Abdulla bin Abbas bin Ahmed formally launched sanitary ware products manufactured by Oman Ceramics Company, the only firm of its kind in the country.
The RO6 million ($15.6 million) company is also the first ceramic firm in Oman to use British technology, a local newspaper said.
The firm is currently producing some 375,000 high quality sanitary ware items, half of them bought by Adminex Group in Essex, Britain, while the rest of the products will be marketed in the Gulf.
