Mubasher: Qatar National Cement on Monday announced signing a memorandum of understanding (MoU) with Qatar Primary Materials Company to expand in cement export operations.

The deal allows Qatar National Cement to use Qatar Primary Materials’ facilities, silos, and platforms to export cement and clinker, according to the company’s statement to the Qatar Stock Exchange (QSE).

During the full-year 2018, the Qatari cement firm’s profits rose 6.4% year-on-year to QAR 347.83 million ($95.53 million), from QAR 326.92 million ($89.79 million).

The Qatari firm’s ordinary general meeting (OGM) previously approved the distribution of 50% of the company's share capital as cash dividend at QAR 5 per share for 2018.

By 12:26 pm Qatar time, Qatar National Cement’s stock went up 3.35% to QAR 61.16.