28 OCTOBER 2013http://main.omanobserver.om
Oman Cables reaffirms expansion plan for OAPIL
Edited by : AL CIRCLE
2 min read
Rusayl-based power cables manufacture Oman Cables Industry (OCI) has reiterated its backing for the proposed expansion of its subsidiary, Oman Aluminium Processing Industries Limited LLC (OAPIL).
OAPIL, based in Sohar Industrial Estate, is a joint venture between Oman Cables Industry and Takamul Investment Company, a downstream start-up company majority owned by Oman Oil Company. The plant utilizes molten metal from Sohar Aluminium to produce aluminium and alloy rods, as well as overhead transmission line conductors. Plant capacity is currently pegged at 48,000 tons per annum of products.
In a filing to the Muscat Securities Market (MSM) on Thursday, Oman Cables Industry stated: “Further to the Company’s [public disclosure dated 24 July 2012] regarding OAPIL’s Expansion Project, the Company hereby reports on the status of the Project as follows: The Company has reaffirmed its in-principle approval for the project, subject to receiving the necessary pre-approvals.”
OAPIL commenced commercial operations in April 2010 with the production of electrical conductors based on equipment and technology secured from Southwire Company of the United States. Soon thereafter, the company launched production of overhead line conductors. It is now equipped to also supply aluminium alloy wires and strands in different sizes to the domestic and regional markets.
Earlier this year, OAPIL voiced a desire to expand capacity by 75,000 tons per annum, which will more than double its current capacity.
OAPIL, based in Sohar Industrial Estate, is a joint venture between Oman Cables Industry and Takamul Investment Company, a downstream start-up company majority owned by Oman Oil Company. The plant utilizes molten metal from Sohar Aluminium to produce aluminium and alloy rods, as well as overhead transmission line conductors. Plant capacity is currently pegged at 48,000 tons per annum of products.
In a filing to the Muscat Securities Market (MSM) on Thursday, Oman Cables Industry stated: “Further to the Company’s [public disclosure dated 24 July 2012] regarding OAPIL’s Expansion Project, the Company hereby reports on the status of the Project as follows: The Company has reaffirmed its in-principle approval for the project, subject to receiving the necessary pre-approvals.”
OAPIL commenced commercial operations in April 2010 with the production of electrical conductors based on equipment and technology secured from Southwire Company of the United States. Soon thereafter, the company launched production of overhead line conductors. It is now equipped to also supply aluminium alloy wires and strands in different sizes to the domestic and regional markets.
Earlier this year, OAPIL voiced a desire to expand capacity by 75,000 tons per annum, which will more than double its current capacity.
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