Oman – Mubasher: Salalah Mills announced on Sunday that its board has approved the establishment of a polypropylene bags plant estimated at a cost of OMR 4 million.
The new plant is expected to have a production capacity of 48 million bags per year, with production to commence by the end of 2016, Salalah Mills revealed in its filing to the Muscat Securities Market (MSM), adding that the project will be financed through facilities from equipment suppliers and commercial loans.
The Omani firm recently reported a net profit of OMR 2.735 million ($7.08 million) in H1-15, down from OMR 3.805 million ($9.85 million) in the same period of 2014.
