Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - QNCC for QR1.19bn expansion plan  Join our daily free Newsletter

MENAFN - The Peninsula - 19/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar National Cement Company (QNCC), the largest maker of cement in Qatar, will expand its production capacity from 10,000-12,000 tonnes per day (TPD) to around 20,000 TPD to meet the growing demand of cement in Qatar. The cement maker will invest around QR1.19bn to increase the capacity



"The company has signed a letter of intent to construct the cement line Number 5 with FL Smidth of Denmark for a designed capacity of 75,00TPD clinker, the contract price amounted to QR1.19bn," said Salem bin Butti Al Naimi, Chairman and Managing Director, Qatar National Cement Company, on the sidelines of Annual Ordinary Meeting of General Assembly. "The expected completion time for the first cement mill is 17 months and the overall plant will be completed within 24 months form the effective date of the contract," he said



The most of the demand for cement will be related to FifaWorld Cup 2022.



"There will be strong demand for Cement in Qatar in next five-six years due to the projects related to football world cup in 2022," said Salem bin Butti Al Naimi. "The new plant is planned to meet the growing demand,"



He said



Qatar has come a long a way in term of consumption of demand. According to industry sources, the demand for cement a decade ago was just 2000 TPD. Now the demand for Qatar is around 12,000TPD-15,000 TPD mainly driven by ongoing infrastructure projects across the country.



"The market demand of all types of cement and washed sand was successfully met from the company's own production maintaining the high quality standards and keeping the same price for all products," he said



The cement maker is open to export cement if the supply of cement exceeds the demand in future. Currently the company is not importing cement


 


The Peninsula




  MENA News Headlines
 Oct 31 2014 - Saudi Arabia's Sedco Capital eyes $300m Europe real estate dealThe Peninsula
(MENAFN - The Peninsula)  Jeddah-based Islamic investment firm Sedco Capital plans to arrange a club investment of up to $300 million in European real estate, and will soon distribute its Luxembourg ...

 Oct 31 2014 - Qatar Exchange index falls on heavy sell-offThe Peninsula
(MENAFN - The Peninsula)  Qatari stocks plunged on heavy profit-taking yesterday, a day after Federal Reserve announced its decision to wound up its over five-year-long quantitative easing stimulus ...

 Oct 31 2014 - Kuwait prioritizes protection of human rights - EnvoyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  The State of Kuwait on Thursday reaffirmed respect for human rights out of belief in their crucial role in the achievement of sustainable development.The Kuwaiti ...

 Oct 31 2014 - Kuwait welcomes Sweden's recognition of Palestinian statehoodKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  Kuwait welcomes Sweden's decision to recognize Palestine as an independent state, a senior Foreign Ministry source said on Thursday.The decision comes in line ...

 Oct 31 2014 - Ban condemns Sudan hostilitiesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  UN Secretary General Ban Ki-moon strongly condemned the resumption of hostilities between the Sudan People's Liberation Army (SPLA) and Opposition forces in ...

 Oct 31 2014 - US, Israeli officials discuss ISIL, IranKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  Senior US officials working on the Obama Administration's counterterrorism strategy met with their Israeli counterparts on Thursday for the semi-annual meeting ...

 Oct 31 2014 - Kuwaiti Speaker condemns Israeli closing of Aqsa MosqueKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  We condemn the unjustly Israeli act of closing the Holy Aqsa Mosque in the face of worshippers, Kuwait's National Assembly Speaker and Chairman of the Arab ...

 Oct 31 2014 - S. Korean Pres. calls for more economic ties with Saudi ArabiaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  South Korean President Park Geun-hye on Friday called for expanding economic ties with Saudi Arabia, saying the two countries should seek exchanges in new areas ...

 Oct 31 2014 - EU condemns ISIL atrocities in IraqKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  The EU Friday expressed condolences to the families of the tribesmen who were killed in recent ISIL atrocities in the Anbar province, as well as to the families ...

 Oct 31 2014 - OPEC basket price down by 45 cents to USD 82.79 pbKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))   OPEC daily basket price stood at USD 82.79 a barrel Thursday compared with USD 83.24 the previous day, the cartel said on Friday.The annual rate of the OPEC ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help