Omar Aluminum Develops Expansion Plan

Omar Aluminum Processing Industries (OAPIL), an aluminum processing company, announces that it is revising its plans to increase its existing production capacity. The company is a joint venture between Oman Cables and the investment company Takamul.

The company has already announced that it plans to increase its production capacity to 100 thousand tons per year from the current 48 thousand tons per year. The company obtains aluminum from Omar Sohar Aluminum for the production of rods and wires.

The expansion plan calls for an investment of 15 million OMR and includes the creation of a new production line at the plant that has the ability to produce aluminum and alloy rods and conductors primarily for the energy sector. (1 Omani rial (OMR) equals 2.59 USD)

Sales proceeds in the first half of 2014 were practically at the level of the same period last year. By selling more, the company maintained revenue even as prices were falling. In the first six months of 2014, group sales were OMR 150.3 million, compared to OMR 152.1 million in after-tax net income for the same period in 2013.

The company's long-term infrastructure expansion plan also aims to improve product quality. The company's net profit after tax in the first half of 2014 was about 8.3 million OMR, for the same period of 2013, the profit was about 7.3 million OMR. Ebitda for six months OMR 11.1 million, up from OMR 9.9 million for the same period in 2013, an increase of 11.8 percent.