Oman: A joint venture of Kunooz Oman Holding and Belgium-based Etex plans to build a new US$26m gypsum wallboard plant, The Oman Daily Observer newspaper has reported. Additionally, the partners announced that Etex has acquired a 25% stake in Kunooz Oman Holding subsidiary Kunooz Gypsum. Kunooz Gypsum operates the 2.3Mt/yr-capacity Salalah gypsum mine in Dhofar.
Kunooz Oman Holding said “The joint venture will be supported by long-term gypsum supply agreements serving both local production and international export markets. Aligned with Oman Vision 2040, the partnership will drive downstream value creation, industrial diversification and employment, while positioning Oman as a regional hub for high-value gypsum products.”
The new joint venture is owned 51% by Etex and 49% by Kunooz Oman Holding. Kunooz Oman Holding is in turn 20% owned by Omani state investment vehicle Minerals Development Oman.
