Displaying items by tag: Somaliland

Kenya: The Competition Authority of Kenya has granted China-based Zou Fengqi and Oman-based Raysut Cement exemption from regulatory approval on a recent application in line with competition guidelines. The Business Daily newspaper has reported that the application stated that Zou Fengqi plans to acquire a 60% stake in Raysut Cement’s business in East Africa.

Raysut Cement operates grinding plants in Mogadishu, Somalia and Somaliland.

Maldives: Oman-based Raysut Cement has announced that it is seeking a 75% stake in a cement terminal in the Maldives, as part of its long-term global expansion strategy.

In a disclosure filed with the Muscat Securities Market (MSM) in Oman, Raysut stated, “Raysut Cement Company wishes to inform that it is in discussions with Cementia AG of Zurich to acquire its 75% shareholding in LH Maldives Ltd, a cement terminal located at Thilafushi Island, Maldives.” Both Cementia and LH Maldives are controlled by LafargeHolcim.

Raysut Cement is also constructing a 1.0Mt/yr cement grinding plant in collaboration with MSG Group in Somaliland, internationally recognised as an autonomous region of Somalia. In September 2019 Raysut signed an agreement to set up a 1.0Mt/yr grinding plant in Duqm, Oman and is also setting up a US$200m integrated cement plant in Georgia via its UAE-based subsidiary Pioneer Cement.

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.

India: Oman’s Raysut Cement plans to invest around US$700m in India by 2022. Joey Ghose, the chief executive officer (CEO) of the company, said that about US$200m has been set aside to buy majority stakes in two local producers in early 2019, according to the Hindu newspaper. Raysut Cement wants to increase its total cement production capacity to 20Mt/yr. The investment will be funded by internal revenue and loans.

The cement producer is holding talks with companies in Chhattisgarh and the coastal region of Gujarat respectively. Each company has a production capacity of around 1.2Mt/yr. Raysut Cement also intends to invest up to US$500m in these companies following their acquisition by 2022, bringing their capacity up to 5Mt/yr.

Outside of India, Raysut Cement also says it is interested in buying a 70% stake in Kenya’s ARM Cement for US$100m. It is also in discussions to acquire buy cement producers in Uganda and Djibouti. It currently has projects in development in Somaliland and Somalia. The company also holds a majority stake in Pioneer Cement Industries Georgia.

Somaliland: The government of Somaliland, an autonomous region of Somalia, has given ownership of the Berbera Cement Plant to Red Sea Cement, a new company formed by Dahabshiil Group, Berbera Group and the Kuwaiti Kipco. The joint venture plans to renovate the abandoned plant, according to the Somaliland Press news website. The 0.2Mt/yr integrated cement plant was originally built by French and North Korean concerns in the late 1970s. However, production ceased at the site during the civil war in the 1990s.

Oman: Raysut Cement has confirmed its plans to build a new cement plant via a joint venture with Oman Cement. The cement producer announced its plans in its first quarter financial report for 2017. The new company will be called Alwasta Cement Company. As announced previously the new project will be dependent on a feasibility report. It also announced that its project with Barwaaqo Cement Company to build a terminal in Somaliland, an autonomous region of Somalia, is progressing and that work on a new packing plant in underway.

Somaliland: Raysut Cement is set to choose a contractor to build its cement terminal in Berbera. Soil investigation studies have been completed and the company is now about to choose an engineering-procurement-construction (EPC) contractor, according to a recent financial report. Once selected the construction of the plant is expected to take 12 months. The project is a joint-venture with Barwaaqo Cement Company that will build a 12,000t terminal for a cost of US$7.5m.

Somaliland: Raysut Cement, a cement producer based in Oman, has revealed that its project with Barwaaqo Cement Company in Berbera, Somaliland is progressing well. Raysut Cement signed a joint venture agreement with the Barwaaqo Cement Company in September 2014 to build a terminal for packing and distribution of bagged and bulk cement. The terminal will have a storage capacity of 12,000t and will be built with a capital expenditure of US$7.5m, according to the Times of Oman.

Somaliland: Oman's Raysut Cement Co has signed a joint venture agreement with Barwaaquo Cement Co to build a terminal at Berbera port in Somaliland for the packaging and distribution of cement. Salim bin Alawi bin Mohammed Baabood, Raysut Cement's CEO, signed the agreement with Ismail Saeed Hussain, chairman of Barwaaquo Cement.

"Pursuant to this agreement a terminal shall be constructed for the packaging and distribution of bagged and bulk cement using the latest technology at Berbera Port with a storage capacity of 12,000t," said Baabood. He added that the total investment cost of the project is about US$7.5m.