Displaying items by tag: Oman

Georgia: Oman’s Raysut Cement is set to start building a new 2Mt/yr integrated cement plant near Tbilisi with an investment of US$200m. Raysut Cement’s subsidiary Pioneer Cement is managing the project. It owns a concession to a limestone mine in the country that will be used to support the proposed plant. Construction work at the site is scheduled to start in mid-November 2019.

Oman: Raysut Cement, Oman’s leading cement producer, has taken a step forward in the implementation of its 1Mt/yr Duqm grinding plant plans by securing a land lease and port of terminal services agreement from the Port of Duqm. Raysut chief executive Joey Ghose has said that the Duqm unit will help to secure Raysut’s presence ‘in Oman and the neighbouring Gulf markets,’ as well as support strategic investments oversees. Raysut’s 6.4Mt/yr integrated capacity extends from East Africa to the Caucasus. The company has India as its next phase expansion target.

Oman: Oman Cement has engaged the services of a leading consulting company for construction of its 1.8Mt/yr integrated cement plant in Duqm. The company announced the appointment of the consultancy firm to its US$212m project, which has been ongoing since December 2018, on 12 September 2019.

Oman: CMO Asia International Consulting has twice decorated Oman’s Raysut Cement at its first Oman Leadership Awards. Raysut won ‘Best Company for Socially Responsible Practice’ and ‘Best Cement Trading Brand.’

Oman: Raysut Cement is planning the construction of a 1Mt/yr grinding plant in the port town of Duqm. The project has a cost of US$30m, with work set to begin on 19 September 2019. Oman Cement has been building a 1.8Mt/yr integrated cement production plant at Duqm since December 2018. The new grinding plant is Raysut Cement’s first development project since it received US$50.7m in funding from the Omani Bank Nizwa.

Oman: Bank Nizwa has granted US$50.7m to Raysut Cement, the country’s largest cement producer, as part of its commitment to national economic diversification.

Oman: Raysut Cement’s revenue fell by 5% year-on-year to US$108m in the first half of 2019 from US$114m in the same period in 2018. Its profit after tax dropped by 27% to US$1.3m from US$1.8m.

Somaliland: Oman’s Raysut Cement has agreed to build a 1Mt/yr grinding plant with MSG Group. The project will have an investment of US$40m. Raysut Cement will own 55% of the joint venture with MSG Group holding the remainder. Raysut Cement previously had plans to build a cement terminal in the country with Barwaaqo Cement Company.

Oman: Resolve Marine Group (RMG) says it has completed the wreck removal of the bulk cement carrier MV Raysut II. The ship was grounded on Fazayah Beach in May 2018 due to poor weather. The location is home to several endangered species of sea turtle which nest there and RMG worked to remove the ship without causing environmental damage.

At the time of its grounding the vessel held around 6750t of cement. After attempts to refloat the ship failed it was declared a constructive total loss. In November 2018 RMG was awarded the contract to remove the ship and its cargo. It was partially repaired and refloated with its cargo onboard in February 2019. It was then towed to the Port of Salalah where the cargo was discharged and the ship was recycled.

Kenya: ARM Cement has signed a deal to sell its business in Kenya to the National Cement Company for US$50m. The transaction is subject to customary regulatory approvals, according to the Business Standard newspaper. ARM Cement also has operations in Tanzania, Rwanda and some interests, in the form of unexploited mineral deposits, in South Africa.

“This transaction is in line with National Cement’s growth strategy in Kenya to position itself as the leading cement manufacturer in the region. The industry is poised for growth and we are excited about the prospects for this next chapter of our business. We will endeavor to safeguard the interests of all stakeholders including the employees, customers, and suppliers in the overall interest of Kenya,” said Narendra Raval, chairman of National Cement.

The cement producer was placed under administration in August 2018. In late 2018 Oman’s Raysut Cement said it planned to buy ARM Cement as part of its expansion plans. Nigeria’s Dangote Cement was also linked to a potential purchase of the company.