Oman Cement-Loan for new cement project and investment management

27/02/2014 09:55 AST

We wish to inform that the Company has decided to obtain a loan to finance the expenditure on setting up of new cement mill at the existing plant with an estimated expenditure of USD 39 Million from a leading bank in Oman and while our acceptance to Bank’s offer has been communicated, an agreement in this regard is being finalized. It has also been decided to appoint two new portfolio managers to handle part of the investments of the company and detailed arrangement including finalization of agreement with the identified entities is under process.

Regards, Jamal Shamis Al Hooti Chief Executive Officer


Muscat Exchange

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