The joint venture to explore and develop limestone and dolomite resources in Oman.
The Lhoist Group of Belgium and the Suhail Bahwan Group of Oman have decided to join forces to explore and develop limestone and dolomite resources in Oman.
A joint venture agreement was signed by both partners on January 18th 2010. The new joint venture, 60% owned by the Lhoist Group and 40% owned by the Suhail Bahwan Group, will be called Bahwan Lhoist LLC and will be supervised by a board composed of three members each from the Lhoist Group and the Bahwan Group. The Lhoist Group will be represented by its Group Chairman Baron Jean-Pierre Berghmans, the Deputy CEO Mr. Jean Pierre Henin and the Executive Vice President Mr. Patrick Andre. The Suhail Bahwan Group will be represented by its Group Chairman Sheikh Suhail Bahwan, the Managing Director of the Group’s holding company Sheikh Ahmed Bahwan, and the Advisor to the Group Chairman Mr. Divyendu Kumar.
Considering the high quality of Oman limestone resources as well as the experience and commitment of both partners, this newly established joint venture has the potential to become a leading supplier of high quality material to India and Middle East countries and will significantly contribute to the development of Oman’s economy.
Speaking on the occasion, the Lhoist Group Chairman Berghmans said: “The establishment of the Bahwan Lhoist LLC joint venture is a very significant milestone in the Lhoist Group strategy to expand its activities in the Middle East and in India. Together with the Bahwan Group, one of the largest and most respected corporate houses in the G.C.C, we are determined to develop Oman’s outstanding geological resources, respecting the highest environmental and quality standards”.
Marking the occasion, the Suhail Bahwan Group Chairman, Sheikh Suhail Bahwan said, “It is indeed a proud moment for us to be making a serious foray into the minerals sector in association with the Lhoist Group, who have world leading position in the lime production field and who have been in this business for more than a century. We are confident of this venture making a great contribution to the development of Oman’s industrial landscape and its economy in the years to come”.
With the vision of “building, owning and representing world class businesses and brands internationally”, the nearly 50-year old and 15,000- employee strong Suhail Bahwan Group, headquartered in Oman, is among the largest corporate houses of the region and has business footprint in the Middle East, North Africa and South Asia.
The family owned and more than 120 years old Lhoist Group, headquartered in Belgium, is the world leader for lime and dolime products, with operations in more than 22 countries in Western and Eastern Europe, North & South America and Asia. It is committed to respect the highest environmental, quality and efficiency standards in all of its operations across the world.