Cement News tagged under: Oman
Raysut Cement expands production capacity to align with Oman Vision 204008 November 2024, Published under Cement NewsRaysut Cement is expanding its production capacity to support Oman Vision 2040 and meet increasing regional demands. The Sohar Cement Factory, capable of producing 5000tpd, has increased its annual capacity to 1.75Mt. This expansion addresses Oman’s infrastructure needs and offers bulk and bagged forms of cement, including Ordinary Portland Cement (OPC) and Sulfate-Resistant Cement (SRC). In an interview (abstract) with local media, Dr Hilal Al Dhamri, CEO of Raysut Cement Group, emph... |
Raysut Cement 1H loss widens15 July 2024, Published under Cement NewsOman-based Raysut Cement posted a total revenue of OMR31.6m (US$82.1m) in the first half of 2024, representing a 5.7 per cent decline when compared with OMR33.5m in the year-ago period. The group’s loss widened to OMR4.7m from OMR1.7m in the 1H23. |
Oman Cement Co envisages a series of upgrade plans08 March 2024, Published under Cement NewsOman Cement ’s decision to set up a new cement plant at Duqm with a capacity of 5000tpd clinker remains under consideration. Simultaneously, the company is upgrading its capacity by debottlenecking and enhancing the existing Line 3 cooler from 4000 to 6500tpd at its existing Muscat plant, which will increase clinker quality and production capacity. In addition, the company decided to connect the power from the 132kV grid station, for which a technical consultant was appointed, and an EPC te... |
Prospects for the GCC industry19 February 2024, Published under Cement NewsThe Gulf Cooperation Council (GCC) economy has come under pressure from falling oil revenues, but economic diversification is paying off. Moving into 2024, cement market growth is expected across the region, headed by construction projects in Saudi Arabia and UAE, but cement overcapacity continues to overshadow the production base. The GCC cement markets of Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain are poised for growth in 2024, lead by residential and commercial activ... |
Oman Cement’s profits swell22 November 2023, Published under Cement NewsIn the first nine months of 2023, Oman Cement Co (SAOG) ( Hauxin Cement Group ) earned profit after tax of OMR7.355m (US$19.1m), compared to OMR4.638m in the corresponding period of the previous year, marking growth of 59 per cent YoY. According to the company, it has continued its efforts to overcome the adverse impact of the rise in prices of some major cost elements, and extensive efforts have been made in this direction in the current period, with better cost management and sustained e... |
Oman and UAE sign agreement on limestone exports18 October 2023, Published under Cement NewsOman and the Etihad Rail Co(OERC) have signed an agreement with Emirates Steel Arkan to facilitate the export of raw limestone from Oman to the UAE. According to Gulf News Reporter, OERC will provide logistics solutions for the transportation of 4-6Mta of limestone, which Emirates Steel Arkan plans to import from Oman to its cement factories in Al Ain, UAE. “Our collaboration with OERC enhances our supply chain capabilities by leveraging the railway network that connects both countries,” ... |
Raysut Cement appoint a new CEO29 September 2023, Published under Cement NewsRaysut Cement Co has appointed Mr Tarek Talaat as its new CEO. Mr Talaat has 30 years of experience in the cement sector. He has worked at several leading companies in his career, including Holcim, Arabian Cement and Ras Al Khaimah White Cement. Mr Talaat has a bachelor’s degree in civil engineering from Cairo University in 1990 and studied financial management at the French INSEAD University before adding an Executive MBA from the Swiss Business School in Zurich, Switzerland. |
Oman Cement Co sees net profits rise 32% in 1H2313 July 2023, Published under Cement NewsOman Cement Co , which is listed on the Muscat Stock Exchange, has achieved a 32.02 per cent increase in net profit for the first half of 2023. According Oman Cement’s financial statement, it achieved annual profits of OMR4.19m for the 1H23, surpassing the OMR3.17m achieved in the 1H22. The company saw revenue growth of 5.13 per cent in the 1H23 and revenue totalled IMR36.76m, up from OMR34.96m in the 1H22. |
Abra Holdings offers to raise its controlling stake in Oman Cement08 June 2023, Published under Cement NewsAbra Holdings Ltd (Abra) of Mauritius ( Huaxin Cement Group ) has announced a public offer to acquire an additional 15.42 per cent of the issued share capital of the Oman Cement Co (OCC), a move that would increase the former’s stake in OCC to 75 per cent. The offer opens on 14 June 2023 and closes on 25 June 2023 against an offer price of OMR0.379 (US$0.98) per OCC share. “Abra will contribute to the development of operations at OCC, increase its production efficiency, and enhance i... |
Oman Cement appoints Zhu Yaping as new CEO31 May 2023, Published under Cement NewsOman Cement Co ’s board of directors has approved the appointment of Zhu Yaping as the company’s new CEO with immediate effect. He succeeds Salim Abdullah al Hajri, who retired as CEO of the company. Mr Yaping is a senior executive from Oman Cement’s majority shareholder Huaxin Cement Co, which completed the acquisition of a majority 59.58 per cent stake in Oman Cement. Mr Yaping is a highly experienced professional in the cement industry with more than 30 years of experience and a dist... |