Raysut Cement board approves US$24m investment plan

Raysut Cement board approves US$24m investment plan

The board of directors of Raysut Cement, Oman, has approved investments in four projects totalling US$24m in markets where the company is already present as well as new venture in Somalia.

The projects include a cement terminal in Duqm port, Oman, which will also see the construction of two silos with a capacity of 4000t. The Duqm project is set to start operations in the second half of 2014.

The company is also constructing a similar terminal at Somalia's Berbera Port which is a joint venture with an unamed local partner. The terminal will have three silos, each with a capacity of 4000t.

Meanwhile, in terms of enhancing capacity, Raysut plans to build a 0.5Mta grinding unit in Al Mukalla, Yemen, through its affiliate Mukalla Raysut Cement Co.

Finally, Raysut plans to boost capacity of its subsidiary Pioneer Cement based in Ras Al Khaimah, UAE. The expansion includes a new cement silo as well as an upgrade to its cooling and environmental management systems.