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Oman is suffering from a severe building material supply crisis that has prompted an upsurge in prices as a result of global chain disruptions and a recovery in the domestic construction sector, a local newspaper said on Friday.
Prices of cement and steel have swelled over the past few weeks due to supply shortages caused by Western sanctions against Russia and curbs on cement imports by Oman, Alwatan daily said.
It quoted Abdul Karim Al-Houti, head of the economic committee in Oman’s Chamber of Commerce and Industry, as saying some contractors have been forced to halt projects due to the price surge and supply crunch.
“This is a regional and a global problem…but the government in Oman is considering a series of measures to tackle the problem including easing import curbs,” Houti said.
He said authorities are aware of the problem and that there could be incentives for local cement companies to boost production.
“The problem is that these companies rely heavily on imported clinker which is an essential part of cement production… but this is a temporary problem and we believe local cement manufacturers will be able to increase output once this is over.”
Houti noted that such measures are needed to match an increase in project activity following the lifting of restrictions imposed by Oman to counter Coronavirus pandemic.
(Writing by Nadim Kawach; Editing by Anoop Menon)
