Raysut Cement to get US$166.2m loan to refinance debt, Oman

Oman's largest cement company by market value, Raysut Cement said its board of directors decided at a meeting on Wednesday to take a OMR64m (US$166.2m) term loan to refinance an existing five-year loan.

The new loan, with a tenure of 10 years, will be provided by Oman-based Bank Dhofar. In mid-February 2012, the cement manufacturer said it booked a net profit of OMR14.95m in 2011, down from OMR20.7m a year earlier.

In mid-February 2012, the cement manufacturer said it booked a net profit of OMR14.95m in 2011, down from OMR20.7m a year earlier. (Source: SeeNews Middle East and Africa)