Al Anwar's board approves capacity expansion project

19/05/2014 06:15 AST

The board of directors of Al Anwar Ceramic Tiles (AACT) has approved an expansion plan to enhance its capacity by four million square metres per annum. The company is looking to use alternative energy option till the regular natural gas allotment from the government is obtained.

The company' net profit grew marginally by one per cent to OMR2.22 million in the first quarter of 2014 from OMR2.20 million for the same period last year. The company's income was more or less same at OMR7.18 million.

The board of directors last year approved the proposal to set up a new joint venture in Oman to produce frit, which is a major component in tile glazing. The board also approved to convert its wet grinding body preparation facility (which runs on natural gas) to dry grinding facility (which runs on electricity).


Times of Oman

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We are pleased to advise all our shareholders that the company has authorized Muscat Clearing and Depository Co.SAOC (MCD) to distribute the cash dividend of 15% ( RO .015 per share) on behalf of th

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