Oman Cement Company has been ordered to pay Omr 2.25m ($5.9mn) operation by Oman’s ministry of commerce and industry. This amount has to be paid to local villages, who have been affected by its ongoing works on its cement plant. Oman Cement the second largest cement company in Oman will contribute 50 per cent of the total amount of Omr4.49mn, while the rest will be paid by the Omani central government. The analysts expect the sum to have a significant impact on the firm’s financial results.
The damages also include detrimental environmental effects of cement production, such as airborne pollution from dust, gas, noise and vibration, as well as damage to surrounding countryside from quarrying.