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Oman Cables plans expansion with 53% profit growth

Oman Cables Industry (OCI) has allocated OR7m for expansion this year, as it posted a 53% growth in net profit for the first half of this year to O4.6m, Muscat Daily has reported. The company will increase its capital and upgrade its facilities, including setting up a new manufacturing facility and a product reliability test centre in Rusayl. "The construction of the factory will commence shortly and will be completed by the end of this year," OCI said. "The reliability test centre facility, to be completed in the fourth quarter this year, is the first of its kind in the GCC and Mena to facilitate enhanced testing capabilities."