Raysut signs Somaliland jv terminal project

Omani producer Raysut Cement has announced that it has agreed a deal with Barwaaquo Cement of Somaliland to operate a joint venture terminal for the packaging and distribution of cement.

The two companies will build a US$7.5mn terminal in the port city of Berbera which will have the ability to store and distribute both bagged and bulk cement set to be delivered from Oman by sea. It will have a capacity to store up to 12,000t of cement and completion is scheduled for the end of 2015.

Raysut Cement's CEO, Salim Bin Alawi Bin Mohammed Baabood said geographic expansion is one of the firm's main goals as Oman's biggest cement producer looks for alternative sources of revenue.

The total investment cost of the project is about US$7.5m, he added.