Oman Cement Company and Raysut Cement Company have registered a new joint venture with Duqm Special Economic Zone Authority, said a report.

The new company, Al Wusta Cement Company, has been formed to build a new plant to capitalise on the infrastructure projects that are envisioned in the special economic zone, added the Oman Daily Observer report.

According to a joint filing by the two cement manufacturing companies to the Capital Market Authority, the new company proposes to set up the plant in near future ‘subject to detailed feasibility studies’, it said.

The current demand for cement in Oman is estimated to be around 8 million metric tonnes per year. The local companies supply 57 per cent of overall demand and the remaining gap is met through imports.