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News Huaxin Cement completes acquisition of stake in Oman Cement

Huaxin Cement completes acquisition of stake in Oman Cement

Written by Global Cement staff 06 April 2023
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Oman: China-based Huaxin Cement completed its acquisition of a 60% stake in Oman Cement on 5 April 2023. That the group completed the transaction via a Abra Holdings, a wholly-owned subsidiary incorporated in Mauritius. In a submission to the Hong Kong Exchange, Huaxin Cement stated the estimated purchase price for the stake as US$193m.

Oman Cement operates the 4.2Mt/yr Rusayl cement plant in Muscat Governorate. The producer was in talks with possible contractors for an upgrade to the plant’s existing production lines and the construction of a new 10,000t/day Line 4 in March 2023.

Last modified on 12 April 2023
Published in Global Cement News
Tagged under
  • Oman
  • Oman Cement
  • Huaxin Cement
  • Acquisition
  • Abra Holdings
  • Stake
  • Expansion
  • GCW603

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