(MENAFN- Qatar News Agency) Oman Cement Company said its net profit for 2012 rose to OMR17.51 million from OMR12.80 million posted for the previous year.
Total revenue of the company was also higher at OMR59.27 million from OMR50.69 million, while expenditure rose to OMR39.58 million from OMR36.17 million, the company said in a statement. Oman's cement sector, which had previously been experiencing problems, registered positive growth in 2012 thanks to a revival in the local industry.
The Omani government has announced plans to invest OMR314.9m (US$817.9m) in road infrastructure projects during 2013 as well as 681 infrastructure development projects, worth a total of OMR1.5bn (US$3.9bn).
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