Oman Chromite Company (OCC) was established in 1993. It produces high, medium and low-quality chrome, which it mixes into an alloy for sale on international markets where it enjoys a good reputation. Sales and profits grew rapidly between 1995-97.

In 1998, however, net profits fell by 83 per cent to RO 42,269 ($109,978) from RO 246,467 ($640,174) in 1997. Sales fell by 70 per cent to RO 208,302 ($541,044) from RO 717,548 ($1.8 million). OCC attributed the decline in sales to the unpredictable nature of the market and the Asian economic crisis which had forced down the price of chromite.

The company said it followed an established policy and managed for the first time to achieve production of approximately 30,000 tonnes, simultaneously managing to reduce production costs by 27 per cent on the previous year.

OCC says that the efficiency savings it has made have placed it in a good position in the international market. Feasibility studies are underway into a ferrochrome and ferrosilicon plant, in which the company is expected to take an equity stake with, among others, TransGulf Industrial Investment Company.

The project will require OCC to increase its capacity to 100,000 tonnes a year (t/y) to supply the plant with chrome. The $80 million venture will use natural gas and export all of its output, which is used to make stainless steel, much of it to Japan.

The plant is expected to have a capacity of 50,000 t/y of ferrochrome and 19,500 t/y of ferrosilicon. If it goes ahead with the project, the company says it will need to call up the unpaid half of its capital.

The company has adopted a conservative dividend policy, preferring to build up reserves. The government owns 15 per cent of OCC's shares, which were listed on the MSM in January 1993.

Individuals	N/A
Institutions	N/A
Floating	N/A
Government	N/A

Director	Ahmed Bin Hassan Al Deeb
Chairman	Ahmed Bin Mohd Bin Ali Al-Mohammed
Vice Chairman	Ali Bin Abdullah Al Badi
Director	Ibrahim Bin Ali Al Asfour
Director	Mohamed Bin Salim Al Badi
Director	Mubarak Bin Suleiman Al Mantheri
Director	Saleh Bin Mubarak Al Namee
Director	Saud Bin Nasser Al Khusaibi
Director	Sheikh Khalid Bin Saif Al Risi
Director	Soud Bin Abd Al Aziz Al Farse

	2003	2002	2001
Total Assets	1,930	1,843	1,682
Shareholder's Equity	1,601	1,582	1,563
NIAT	94	71	43
Dividends	75	60	N/A

	2003	2002	2001
Assets Growth	4.71%	9.54%	N/A
Earning Growth	32.54%	64.80%	0.00%
ROaA	4.99%	4.03%	5.13%
ROaE	5.92%	4.52%	5.52%
No. Of Shares	1,500,000	1,500,000	1,500,000
EPS	0.06	0.05	0.03
EPS Growth	32.54%	64.80%	0.00%
Payout Ratio	79.635	84.436	N/A

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

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