Meethaq, the pioneer of Islamic banking in Oman, and Ceramica al-Hae'l, a joint Omani-Qatari company part of the Mohammed al-Hae'l Group, have signed an agreement to provide financing facilities to construct a factory for producing ceramic and porcelain tiles, and fittings in Sur. With a production capacity of 15mn sqm per annum, the factory utilises one of the largest compressors in the world (6,500 tonnes) and 85% of the raw materials used can be sourced locally. The factory will export to all countries in the region and is expected to make an effective contribution to the sultanate’s industrial sectors and markets, according to the company. (Muscat Daily)