Oman Fiber Optic to open a new plant in November 2015
News update from Oman Fiber Optic.
A new state-of-the-art plant to manufacture fibre optic cables at Oman Fiber Optic’s Rusayl site in the northeast of Oman will be ready for commissioning by November 2015, according to the company’s CEO, Mohammed Al-Barashdy.
The company is spending a total of OMR 13 million ($33.6 million) to build two plants, a warehouse and new headquarters at Rusayl. Both production units replace facilities severely damaged in a fire in October 2012.
The first unit was commissioned in March 2014 (pictured left) and has an installed capacity to produce 14,000-18,000 km/year of cable. The second unit, to start up in November 2015, will be able to make 1.6 million fibre km/year. The company used to produce 350,000 fibre km/year before the fire.
Barashdy told journalists during the unveiling of the company’s new corporate logo (pictured below) that it used money from the insurance claim as well as capital from stakeholders to rebuild and expand the plants.
He explained that the logo represented the company’s new strategy which is to be the provider of choice for the region, based on quality and customer service, for tailor-made fibre optic and telecom solutions.
Oman Fiber Optic was incorporated in 1996 and is listed on the Muscat Securities Market. Major shareholders include telecom service provider Oman Telecommunications Company, Gulf Investment Company of Kuwait, Oman & Emirates Investment Holding Company and H E Dr Omar Zawawi & Associates.
The company has three core businesses: fibre optic and fibre cable production, design and installation of telecommunication networks and wireless telecommunication solutions.
Its customers consist of telecommunication companies, the oil and gas sector as well as governments in Oman, the Middle East, Africa and South East Asia.
Al Barashdy told journalists that the company will sell 35%t of its output domestically, while 65% will be exported to Gulf Cooperation Council (GCC) countries, Iran, central Asia and Eastern Europe.
Oman Fiber Optic posted sales revenues of OMR 26.95 million ($69.5 million) in 2013.