02 Mar 2017

Qatar National Cement Company is planning to increase the production capacity of cement by 5,500 tonnes per day during the first half of the current year, Salem bin Butti Al Naimi, Chairman & Managing Director, Qatar National Cement Company said here yesterday.

"Board of Directors Plan for 2017 is to commission the two cement mills of Plant (5) during the first half of the year to increase the production capacity of cement by 5500 tonnes per day and complete the construction of Plant (5) by operating the kiln and other utilities during the second half of 2017," said Al Naimi addressing shareholders at the Ordinary General Assembly and Extra Ordinary Meeting held at the Sheraton Hotel.

The company plans to increase the production capacity of washed sand and calcium carbonate in line with the expected increasing market demand, maintaining the Company's objectives, he added.

The meeting approved  the Board of Directors' proposal to distribute to the shareholders cash dividends of 40 percent  of the share capital, representing QR4 per share.

The Chairman said the company also plans to dispose off the Cement Plant1 which was closed since  June 30, 2016 with all accessories at Umm Bab. 

The company will continue protecting the environment and ensure the safety of the natural reserves in all industrial areas of the company and continue coordinating with authorities to apply the highest protection standards adopted in the country,added the Chairman.

The Company will encourage Qatari nationals to join the company in line with the State’s policy targeting employment of national workforce.  

The company  achieved a net profit amounting to QR475m for the year 2016 against QR464m for the previous year.

The company’s production in both categories of cement OPC & SRC reached 3.7 million tonnes during year 2016 compared to 3.8 million tonnes during the previous year.

The production of washed sand has increased to 8.8 million tonnes during the year 2016 compared to 7.8 million tonnes during the previous year. Calcium carbonate production during the year 2016 increased to 37,400 tonnes compared to 37000 tonnes during previous year.

Sales of all types of cement reached 3.7 million tonnes during year 2016 against 3.8 million tonnes during the previous year. The sales of washed sand has increased to 8.1 million tonnes during the year 2016 compared to 7.7 million tonnes during the previous year. Sales of calcium carbonate amounted to 36000 tonnes during year 2016 same as previous year.

The total value of sales revenue is recorded at QR1.14bn during year 2016 compared to QR1.17bn for previous year.

© The Peninsula 2017