In its statement to the Muscat Securities Market (MSM), Majan Glass announced receiving a notification from the Public Establishment for Industrial Estates (PEIE) in  November 2014 informing it of a price increase in natural gas starting January 1, 2015. The price of natural gas was hiked from 20.50 baizas to 41 baizas per standard cubic meter, added to an annual increase by three percent.

“This increase will push up our total manufacturing cost for the year 2015 by approximately OMR 500,000 at full capacity utilization,” Majan Glass highlighted in its statement.

Photo Credit: Arabianeye-Reuters