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The recently established Gulf Cement Company (GCC) is planning to appoint a consultant by the end of June for its grassroots cement plant at Umm Bab. The appointment is expected to be swiftly followed by the release of tender documents for the equipment supply package on the fast-track project, which is targeted for completion by mid-2008. Capitalised at QR 800 million ($219 million), GCC completed in mid-April an initial public offering (IPO) for 80 per cent of its shares, in a transaction that was nine times oversubscribed (MEED 28:4:06).