Cement News tagged under: Raysut Cement Company
Raysut Cement opens new packing line27 March 2018, Published under Cement NewsOman's Raysut Cement Co recently inaugurated a new packing line, installed by a leading European equipment manufacturer. The new line will double the packing capacity at its Salalah plant, enabling the company to supply an additional 1Mta of bagged supply to the export markets of Yemen, Somalia and east Africa. The project represents an investment of OMR1.5m (US$3.9m). |
Raysut Cement to look at 1Mta plant in Georgia22 March 2018, Published under Cement NewsOman’s Raysut Cement Co is planning to carry out an initial study for a 1Mta plant in Georgia, according to Muscat Daily. The company’s subsidiary, Pioneer Cement Industries Georgia Ltd, already owns a mine with over 30Mt of limestone reserves, located 60km from Tbilisi. According to a disclosure filed to the Muscat Securities Market, Raysut Cement has begun discussions with possible partners for both equity participation and engineering, procurement and construction contracting. A decisi... |
Raysut Cement reports negative results for 201727 February 2018, Published under Cement NewsOman-based Raysut Cement Company has reported negative sales revenue and net earnings results due to competition from UAE producers and ongoing socio-economic disturbances in Yemen, according to the Times of Oman. "There has been severe competition across markets, coupled with socio-political disturbances in Yemen. Unabated supply of cement from the UAE due to surplus capacity and price decline has caused a dent in prices and volume of sales in the northern markets of Oman," stated the com... |
Raysut to hold EGM on Oman Portuguese Cement Products sale14 July 2017, Published under Cement NewsRaysut Cement has invited its shareholders to attend an extraordinary general meeting (EGM) to discuss and approve the sale of Raysut Cement’s entire share in Oman Portuguese Cement to Opal Development Co LLC. The EGM will be held on 25 July, Salalah-based Raysut Cement said in a filing to the Muscat Securities Market on Wednesday. Raysut is reportedly planning to sell its entire stake in Oman Portuguese Cement Products Co to Opal Development Co LLC, according to the Muscat Daily. Ra... |
Raysut Cement Co net profit down 62%12 May 2017, Published under Cement NewsRaysut Cement Co reported a 61.76 per cent decline in its net profit in 1Q17 impacted by lower sales volume and increased tax rate, according to its quarterly report submitted to the Muscat Securities Market on Tuesday. Group net profit fell to OMR3.09m versus OMR8.08m in the same period a year earlier. The decline was attributed to a significant increase in the cost of electricity, lower sales volumes and an increased tax rate from 12 to 15 per cent, the Muscat Daily reported. During ... |
Oman: Raysut Cement net profits rise in 201616 January 2017, Published under Cement NewsRaysut Cement has reported a 1.02 per cent growth in net profits of OMR21.17m (US$54.98m) for 2016, against OMR20.95m reached in 2015. Total revenue of the company fell by 2.2 per cent to OMR92.59m in 2016, from OMR94.68m in 2015, according to preliminary results posted by the company on the MSM website. The cost of sales of the company edged up by 3.3 per cent to OMR61.13m in 2016, from OMR59.18m in 2015. |
Oman: Raysut Cement 2Q16 profits fall 2%14 July 2016, Published under Cement NewsRaysut Cement Company (RCC) reported a decline by two per cent in its second-quarter profits, according to a bourse statement. Profits reached OMR4.8m in 2Q16, compared to OMR4.9m (US$12.72m) in 2Q15. Moreover, net profits stood at OMR12.9m |(US$33.5m) in the first half of 2016, an increase of 17.8 per cent from OMR10.96m in the first half of 2015. |
Oman: Raysut Cement 1Q16 profits up 34%15 April 2016, Published under Cement NewsOman’s Raysut Cement reported a 34 per cent increase in 1Q16 net profit on Wednesday, according to a bourse statement. The largest cement firm by market value in the sultanate made OMR8.08m (US$20.9m) in the three months ending 31 March, compared with OMR6.03m in the same period of 2015. Analysts at EFG Hermes and Gulf Baader Capital Markets forecast Raysut would make a quarterly net profit of OMR5.70m and OMR5.83m, respectively. |
Raysut Cement, Arabian Industries sign OMR2.1m deal16 December 2015, Published under Cement NewsRaysut Cement Co has signed an agreement with Arabian Industries to implement a project to increase the competency of the Omani company’s gas pressure reduction plant (GPRP). The project is estimated to cost OMR2.1m (US$5.4m) and is expected to be completed in May 2016. Oman Gas Co has been nominated as the project services management consultant, Raysut Cement said in its filing with the Muscat Securities Market on Tuesday. |
Raysut signs Somaliland jv terminal project15 September 2014, Published under Cement NewsOmani 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. R... |