Al Duqm Crushers, a Dolomite mining concern based in Oman and a Nomou Oman client, was started with the intent of supplying Dolomite to overseas markets in Dubai, Abu Dhabi, Qatar and India. The company specialises in the extraction and manufacture of the highest quality quarry materials – predominantly for export to the steel-manufacturing industry, but also for the ready mixed concrete and asphalt industries in the domestic Omani market.
Cyprian national George Pipis and Omani entrepreneur Sheikh Faisal Bin Nasser Al Junaibi got together to launch the start-up on the strength of their respective technical expertise and local networks. They managed to successfully secure a contract with an India-based client that allowed them to establish initial demand for their products. The location of Al Duqm Crushers quarry – just 30km from Duqm port – means that export to India and further afield is logistically straightforward and fast, with easy overland access to local markets being an added benefit.
Mining Success from the Start
In 2014, Nomou Oman invested in the start-up, which, at the time, had a proposed quarry of operations in the Duqm special economic zone (SEZ) that is currently operational and yielding a sizeable output of Dolomite. It may be noted that Dolomite has important construction-based applications, and is widely used in the production of building materials as also by the steel industry.
Apart from finance of US$ 937,300 over five years to fund working capital requirements, Nomou also provided business support to help the company establish its operations.
“We helped the start-up draw a detailed business plan to commence operations. This involved putting a well-fleshed health and safety plan in place. We also helped appoint and train a local manager to ensure sound succession planning,” noted Mohammed Al Maskari, Senior Investment Manager, GroFin Oman.
Al Duqm Crushers has gone from strength to strength since Nomou extended funding and support to the start-up.
While it is planned to export a large part of the production, there is also good local demand. The company has installed the biggest crushers as per global standards to produce material that was in demand in the growing Duqm area too.
Social and Economic Impact
The goal of the project is to serve the national economy and to put on the map the projects launched by Omani youth. The company provides jobs to as many as 30 employees, and prioritises Omani youth for job opportunities, thus contributing to the Omanisation objective under the Nomou Fund.
“Production and export of such material will not only result in the creation of jobs for nationals but also contribute to economic growth. We are grateful to the Nomou Fund for supporting our efforts and allowing us to contribute to national objectives,” says Sheikh Faisal Bin Nasser Al Junaibi, Al Duqm Crushers’ chairman.