Cement firm eyes production rise despite slowdown

The Gulf Holding Company’s (GHC) cement production will go up to 5,000 tonnes per day with its new plant coming online by the end of the year, it was reported on Sunday.

General manager Dr Omar Yaji claimed that Qatar’s demand for cement would not see any drop although the local construction sector was “slightly affected” by the global downturn.

He added that despite efforts by his company and Qatar National Cement Company to increase production, the local market would continue to be in need of imported cement, Gulf Times reported.

“It is true that the construction sector is badly hit around the world due to the financial crisis. But with Qatar, the situation is different. The crisis has had no major impact on Qatar,” he told the paper.

He said the current domestic need of cement was estimated to be 25,000 to 30,000 tonnes a day.

“There are several giant real estate projects on the list. With such projects, there would be no drop at all in the local demand for cement,” he added.

GHC reported a net profit of QR58m during the first half of this year compared to QR43m during the corresponding period last year, an increase of 35 percent.

GHC financial manager Essam Abdul Majid told the paper that the positive results during the first half of the year showed that the national economy was able to absorb the global downturn.

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