Cement News tagged under: Raysut Cement
Raysut Cement Co announced a change of board member20 February 2024, Published under Cement NewsRaysut Cement Co informed the Muscat Stock Exchange on 18 February that Mubeen Jaleel Khan resigned as a board member due to personal reasons. This was effective from 15 February 2024. Subsequently, the company announced that the Capital Market Authority (CMA) had appointed Shabib Mohammed Saif Al Darmaki as the new board member, succeeding Mr Mubeen. This is effective from 15 February 2024. Mr Shabib currently serves as the chairman of the Board of Directors of Oman National Investment... |
Raysut Cement appoint a new CEO29 September 2023, Published under Cement NewsRaysut Cement Co has appointed Mr Tarek Talaat as its new CEO. Mr Talaat has 30 years of experience in the cement sector. He has worked at several leading companies in his career, including Holcim, Arabian Cement and Ras Al Khaimah White Cement. Mr Talaat has a bachelor’s degree in civil engineering from Cairo University in 1990 and studied financial management at the French INSEAD University before adding an Executive MBA from the Swiss Business School in Zurich, Switzerland. |
CMA suspends trading of shares in Raysut Cement28 November 2022, Published under Cement NewsThe Capital Market Authority (CMA) has suspended the trading of shares in Oman-based Raysut Cement SAOG after material misrepresentations were spotted in the company’s unaudited financial reports for the second quarter of 2022, published on 10 November 2022. According to the Oman Daily Observer, the misrepresentations were picked up during an audit of the results as they were inconsistent with international accounting standards and therefore the results do not reflect the real financial... |
Raysut Cement Co plans Duqm grinding plant start up for 4Q2123 September 2021, Published under Cement NewsRaysut Cement Co's (RCC) US$30m Duqm grinding unit in Oman will come on-stream in the 4Q21. The Duqm plant will raise RCC’s group output to 7.4Mta, and help the company raise production to 10Mta by 2022. “Duqm plant will add another 1Mta to our capacity, helping us cater to Oman and other regional markets with increased supplies, where construction activity is poised to pick up in post-pandemic resurgence,” said Mr Joey Ghose, group CEO of RCC. As part of developing the Duqm plant... |
Differing priorities for Oman's leading cement players17 September 2021, Published under Cement NewsThis week, Oman Cement Co announced that it is planning a 5600tpd brownfield expansion of its plant in Rusayl, Oman, as it builds a new kiln line, upgrades an existing line and shuts down some capacity. The capacity programme will improve its domestic production, which is currently behind market leader Raysut Cement. The latter catapulted its cement capacity ahead with the acquisition of Sohar Cement in 2019. The lure of foreign markets has also seen Raysut Cement expand its capcity, but bot... |
Raysut Cement granted CE and NF markings30 March 2021, Published under Cement NewsOman-based Raysut Cement Co has been granted the CE and NF markings by AFNOR Certification of France, for some products manufactured in the Salalah plant, after passing successfully the CE002:2020 or NF002:2019, NFP 15-317:2006 and NFP 15-318:2006 certifications for some cement qualities that will be exported in the Indian Ocean islands. Raysut Cement has been advised by a consulting company based in Switzerland Quadra Trading, to achieve compliance with the strict quality requirements... |
Raysut Cement reports 8% rise in total revenue02 March 2021, Published under Cement NewsOman's Raysut Cement Group has reported an OMR14.06m (US$36.57m) net loss for the full-year 2020 period, against an OMR2.26m profit in the previous year. The results were attributed to a decline in sales volume in the local market as a result of projects and lower sales realisation per tonne of cement and clinker sold in export markets due to stiff competition from the UAE, Saudi Arabia and Iran. However, the company’s total revenue increased 7.5 per cent YoY to OMR90.38m from OMR84.05m. ... |
Raysut Duqm Cement Factory financing announced21 December 2020, Published under Cement NewsTo support initiatives to scale up the industrial sector in Oman, ahlibank has announced the financing of OMR8.1m (US$21.1m) for Duqm Cement Factory's new cement grinding plant in Duqm Industrial Estate. A signing ceremony with Duqm Cement Factory, a wholly-owned subsidiary of Raysut Cement, took place on 10 December, the Times of Oman reported. Signing the agreement on behalf of ahlibank was Hanaa Al Kharusi, General Manager – Corporate Banking while Raysut Cement Company was represente... |
Raysut holds ground breaking ceremony for 1Mta Duqm grinding plant11 November 2020, Published under Cement NewsRaysut Cement Co (RCC) has held a groundbreaking ceremony for the start of the construction of its new US$30m grinding unit in Duqm in Oman. The development of the 1Mta Duqm plant raises the group's cement capacity to 7.4Mta. "Today’s groundbreaking is a milestone for RCC on two counts. It will contribute significantly to our ambitious capacity expansion targets of 10Mt by 2022 which is expected to be further scaled up to 22Mt in the near future. Second, it will help us generate m... |
Raysut Cement reports 5% fall in revenue15 October 2020, Published under Cement NewsOman’s Raysut Cement has announced its unaudited results for the 9M20, reporting a five per cent YoY fall in revenue to OMR65.24m (US$169.67m) from OMR62.13m in the year-ago period. The company also saw a OMR10.65m loss after tax for the nine months ending September 2020, compared to an OMR1m profit in the 9M19. |