Huaxin Cement completed the acquisition of a 60% stake in Oman Cement from Oman Investment Authority for $193m.

Huaxin Cement completed the acquisition of a 60% stake in Oman Cement from Oman Investment Authority for $193m. "This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to the development of operations at Oman Cement, increase the efficiency of its production lines and enhance its competitiveness locally and regionally, in addition to enhancing the positive image of the Omani industrial sector in general," Ibrahim bin Said al Eisari, OIA Director General.