Sunday, March 5, 2017

QNCC to commission two new cement mills

Qatar National Cement Company (QNCC) is set to commission two cement mills during the first half of 2017 as part of its plan to boost the cement production capacity by 5,500 tonnes per day, said a report, citing a top official.

The Qatari firm also 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, reported The Peninsula, citing Salem bin Butti Al Naimi, the chairman and managing director.

"We also aim to complete the construction of Cement Plant 5 by operating the kiln and other utilities during the second half of 2017," remarked Al Naimi addressing shareholders at the Ordinary General Assembly and Extra Ordinary Meeting held at the Sheraton Hotel.

The meeting approved the board's proposal to distribute to the shareholders cash dividends of 40 per cent  of the share capital, representing QR4 per share.

Plans are afoot to dispose off the Cement Plant 1 which remains closed since June last year with all accessories at Umm Bab, stated the report.

Speaking at the AGM, Al Naimi said: "The production of washed sand has increased to 8.8 million tonnes in 2016 compared to 7.8 million tonnes the previous year. Calcium carbonate production too witnessed growth surging to hit 37,400 tonnes compared to 37000 tonnes during 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, he added.

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