Cement News tagged under: Oman
Raysut Cement set to begin construction of new plant in Georgia08 October 2019, Published under Cement NewsUAE-based Pioneer Cement (Raysut Cement Co) is currently finalising arrangements for its greenfield 1.2Mta project to be located near Tbilisi, Georgia. Pioneer Cement owns concessions to limestone mines in Georgia that will provide the key raw materials for the project. The new unit is an opportunity to diversify from the Middle East into a market with large infrastructure growth and a shortage of clinker and high-quality cement, said the company in a statement. "We have embarked on an... |
Raysut Cement signs Duqm plant deals30 September 2019, Published under Cement NewsOmani cement producer Raysut Cement Co, has signed a land lease and Port of Terminal services agreements with Port of Duqm Co for the construction of its US$30m grinding unit. Commenting on the programme, Raysut Cement’s chief executive officer, Joey Ghose, said: "The Duqm unit, which comes after our recent acquisition of Sohar Cements in Oman will help us consolidate and strengthen our presence in Oman and the neighbouring Gulf markets. Our goal is to raise our capacity to 20 million tonn... |
Oman Cement Co appoints consultancy for Duqm plant16 September 2019, Published under Cement NewsOman Cement Co has appointed “a leading consultant company” to work on its upcoming Duqm cement plant as a project consultant, reports New Vision. While it did not name the consultancy, it confirmed that its Duqm integrated plant would have a capacity of 5000tpd. The project, which was approved by the company’s board of directors in December 2018, represents an investment of around US$212m. |
Raysut Cement to install 1Mta grinding unit in Oman04 September 2019, Published under Cement NewsThe board of Oman’s Raysut Cement Co has approved a plan to install a new grinding unit in Duqm, in the central-eastern part of the country. The 1Mta project is expected to represent an investment of US$30m, with work on the plant scheduled to begin later this month. |
Raysut Cement and Bank Nizwa sign OMR19.5m financing agreement27 August 2019, Published under Cement NewsRaysut Cement Co has signed a OMR19.5m (US$50.6m) agreement for Shari’a-compliant financing facilities with Oman-based Islamic lender Bank Nizwa. The facilities consist of long-term financing of OMR12m, working capital of OMR3m to the cement producer’s Salalah plant and OMR4.5m for the construction and expansion of Sohar Cement Factory. Sheikh Abdul Hafidh Salim Al Barami, vice chairman of Raysut, said: "The secured Shari’a-compliant banking facilities will set us for stronger and rapid g... |
Oman Cement Co reports 52% fall in profit17 July 2019, Published under Cement NewsOman Cement Co has reported a 52 per cent YoY fall in profit after tax for its 1H19 unaudited results, decreasing to OMR2.3m (US$6m) from OMR4.8m of the year-ago period. The first six months of 2019 saw total revenue at the company remain flat at OMR26.3m. |
Raysut Cement Co sees revenue fall 5% in 1H1915 July 2019, Published under Cement NewsOman’s Raysut Cement Co has announced its unaudited consolidated results for the first six months of 2019. The company has seen a 5.1 per cent YoY decline in revenue to OMR41.7m (US$108.5m), compared with OMR43.94m in the 1H18. Profit before tax fell 58.1 per cent to OMR517,398 from OMR1.23m. Profit after tax decreased 27.1 per cent to OMR511,871 against OMR701,732 in the year-ago period. |
Raysut Cement recycle bulk carrier30 May 2019, Published under Cement NewsThe Raysut II bulk cement carrier of Raysut Cement Co of Oman was re-floated and recycled recently, according to shipping industry sources. Resolve Marine Group completed the complicated wreck removal of bulk cement carrier Raysut II and also made arrangements to off load damaged cargo at port of Salalah, Oman. The vessel was owned by Raybulk Navigation Inc, a subsidiary of Raysut Cement. Reportedly foreign experts were chosen for this project, because of their plan to re-float the ves... |
Raysut Cement targets expansion outside Gulf region28 May 2019, Published under Cement NewsRaysut Cement Co aims to build on its recent acquisition of Sohar Cement by expanding into Africa and India. Raysut Cement's Chief Executive, Joey Gosh, signalled that further expansion for the Oman cement producer was planned in 2019. Having acquired Sohar Cement Factory LLC for US$60m, Oman Cement is now looking outside of its domestic market. "We are looking at an aggressive expansion strategy from 2019 with a view to eventually expand our production to 20Mta," said Mr Gosh. The indian ... |
Raysut Cement reports 10% revenue increase in 1Q1915 April 2019, Published under Cement NewsOman’s Raysut Cement Co has released its unaudited consolidated financial results for the 1Q19, reporting a 9.8 per cent YoY increase in revenue to OMR23m (US$59.84m) from OMR20.96m. However, profit before tax declined 77.2 per cent in the first quarter to OMR248,478, compared with OMR1.09m of the year-ago period. Total profit and comprehensive income attributable to shareholders decreased 46 per cent to OMR242,951 from OMR450,161. |