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Change in Natural Gas Price w.e.f 2015

Change in Natural Gas Price w.e.f 2015
Al Maha Ceramics
AMCI
-1.11% 0.18 -0.00

The company has received a letter from PEIE Sohar on 24 November  2014 which stated that the Financial Affairs Council had decided on the need to consolidate the sale price of natural gas for all the existing industries and industrial estates in the Sultanate. As a result of this decision, the new gas price of 41 baiza per standard cubic metres would be charged instead of 20.5 Baiza per standard cubic meter with effect from 01 January 2015 and an annual increase of 3% thereafter. This change in natural gas price may affect the projected profits of the company in 2015 by approximately 5%.  The company plans to mitigate this financial impact by reviewing the pricing across different market segments and implementation of certain cost reduction & efficiency enhancement initiatives.

Arvind Bindra

Chief Executive Officer