16 June 2008
Doha - Qatar National Cement Company (QNCC) has announced the signing of a term loan agreement with BNP Paribas for $40m. The funds will be used to cover the remaining costs of QNCC's Plant 4 and other works in progress. Plant 4 is being set up at Umm Bab and is made up of two mills with a capacity of 2,750 tonnes each.
Trial runs for the first mill took place in April this year and the unit has officially started operations. QNCC's cement output has risen to 12,500 tonnes and with the commissioning of the second unit, production is set to increase to 15,000 tonnes. The state has a 43 percent holding in the company, which has embarked on ambitious expansion plans. By the first quarter of 2009, a furnace to produce clinker is to be commissioned. Expansion is also taking place at the sand plant. QNCC's first quarter profits registered an increase of over QR122m with sales up by 12 percent.
Doha - Qatar National Cement Company (QNCC) has announced the signing of a term loan agreement with BNP Paribas for $40m. The funds will be used to cover the remaining costs of QNCC's Plant 4 and other works in progress. Plant 4 is being set up at Umm Bab and is made up of two mills with a capacity of 2,750 tonnes each.
Trial runs for the first mill took place in April this year and the unit has officially started operations. QNCC's cement output has risen to 12,500 tonnes and with the commissioning of the second unit, production is set to increase to 15,000 tonnes. The state has a 43 percent holding in the company, which has embarked on ambitious expansion plans. By the first quarter of 2009, a furnace to produce clinker is to be commissioned. Expansion is also taking place at the sand plant. QNCC's first quarter profits registered an increase of over QR122m with sales up by 12 percent.
© The Peninsula 2008
