OARC Production Capacity
Great expectations are in sight for Oman Aluminum Rolling Company (OARC) over the coming few years. By 2014, it is hoped that commercial operations will begin for the company. According to Buddy Stemple, OARC’s CEO, five years thereafter, it is due to reach its production capacity of 160,000. He mentioned this at the Arabal Aluminum Conference that was held recently at the Muscat’s Grand Hyatt. It is anticipated that the growth will start at around 55,000 tons per annum until it reaches its full capacity. This is going to be part of a five-year plan.
Supporting the Project
A few months ago, building on the plant began, with an injection of $387m (US). It started in the Sohar Industrial Area, near the Sohar Aluminum smelter. The National Bank of Oman along with Bank Dhofar contributed a loan at the value of $193m (US). This will provide part of the finance for the project.
So what will the project achieve, once it has been completed? It is hoped that Aluminum Rolling will be able to develop ‘light gauge’ coils, which will be user-friendly for all types of industries, such as foil, light industrial process, air conditioning, packaging and more. In addition, for the people of Oman, many more jobs will be created. During construction more than 1,000 will be needed and thereafter there will be 275 permanent jobs available. As well, as other industries start developing due to this project, even more jobs will be created. So there is much hope around for the people of Oman as this project gets underway.