Muscat Gases signs deal for supply of nitrogen

Muscat - 

Muscat Gases announced that it has signed a contract for the second term of ten years with Sohar-based Gulf Specialty Steel Industries Co for supply of nitrogen from the company's new airseparation plant in Sohar.

“This contract will have a positive effect on the sales of the company as well as on profitability,” the company said in a filing to the Muscat Securities Market (MSM) on Wednesday. The company had recently announced that its new air-separation plant at the Sohar Industrial Estate has been successfully commissioned and the production of oxygen and nitrogen has commenced. The company recently reported a 2.4 per cent increase in its annual net profits from RO1.37mn in 2011 to RO1.40mn in 2012.

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