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Increase in natural gas prices

Increase in natural gas prices
Omani Packaging
OPCI
0.67% 0.15 0.00

This is to inform you that the company has received a letter from Public Establishment for Industrial Estate (PEIE), Rusayl which states that it has been decided to increase the natural gas price from 20.5 baizas to 41 baizas per standard cubic meter with effect from 1st January 2015 with an additional 3% increase annually thereafter.

This will affect our cost of production, because company production process requires steam, being generated by Gas fired Boilers, thus increasing our cost of production for the year 2015 by about          RO 60,000 (Rial Omani Sixty Thousand) at full capacity utilization.

 

Surya Arora

Chief Executive Officer