Cement News tagged under: Raysut Cement Co
Raysut Cement sees net loss contract in 1H2115 July 2021, Published under Cement NewsOman’s Raysut Cement Co has seen its net loss after tax contract to OMR3.2m (US$8.3m) in the first half of 2021, compared to OMR10.9m in the same period of last year. Total revenue remained largely consistent YoY at OMR45m from OMR44.8m in the 1H20. |
Raysut Cement announces 5% rise in revenue14 April 2021, Published under Cement NewsOman’s Raysut Cement Co has reported a five per cent increase in total revenue to OMR26.9m (US$69.95m) in the first quarter of 2021, compared to OMR25.6m in the year-ago period. The company also returned to a profit after tax of OMR102,814 against a loss of OMR4m in the 1Q20. |
Raysut Cement acquires 75% stake in Maldives terminal14 October 2020, Published under Cement NewsOman’s Raysut Cement Co has announced that its has acquired a 75 per cent stake in LafargeHolcim’s cement terminal at Thilafushi Island in the Maldives. As a result, it has formed a new joint venture, Raysut Maldives Cement Pvt Ltd. The new entity, with the State Trading Organisation (STO) of Maldives owning 25 per cent, has plans to expand the terminal's capacity from 75,000tpa to over 200,000tpa. The terminal will be owned and operated by the RCC-STO joint venture entity. "The Maldiv... |
Raysut Cement records surge in profit for 201915 January 2020, Published under Cement NewsOman’s Raysut Cement Co has seen a 1156.9 per cent surge in profit to OMR4.3m (US$11.2m) in its unaudited results for 2019, compared to OMR343,652 in the previous year. However, total revenue has decreased 7.6 per cent YoY to OMR85.68m from OMR92.76m in 2018. |
Raysut Cement sees 9% decline in revenue for 9M1915 October 2019, Published under Cement NewsOman’s Raysut Cement Co has announced an 8.5 per cent fall in total revenue to OMR62.13m (US$161.58m) in the nine months ended 30 September 2019, compared with OMR67.89m in the year-ago period. Profit before tax declined 65 per cent YoY to OMR1.01m in the 9M19, while profit after tax decreased 49.2 per cent to OMR1.01m from OMR1.99m. |
Raysut Cement set to begin construction of new plant in Georgia08 October 2019, Published under Cement NewsUAE-based Pioneer Cement (Raysut Cement Co) is currently finalising arrangements for its greenfield 1.2Mta project to be located near Tbilisi, Georgia. Pioneer Cement owns concessions to limestone mines in Georgia that will provide the key raw materials for the project. The new unit is an opportunity to diversify from the Middle East into a market with large infrastructure growth and a shortage of clinker and high-quality cement, said the company in a statement. "We have embarked on an... |
Raysut Cement signs Duqm plant deals30 September 2019, Published under Cement NewsOmani cement producer Raysut Cement Co, has signed a land lease and Port of Terminal services agreements with Port of Duqm Co for the construction of its US$30m grinding unit. Commenting on the programme, Raysut Cement’s chief executive officer, Joey Ghose, said: "The Duqm unit, which comes after our recent acquisition of Sohar Cements in Oman will help us consolidate and strengthen our presence in Oman and the neighbouring Gulf markets. Our goal is to raise our capacity to 20 million tonn... |
Raysut Cement to install 1Mta grinding unit in Oman04 September 2019, Published under Cement NewsThe board of Oman’s Raysut Cement Co has approved a plan to install a new grinding unit in Duqm, in the central-eastern part of the country. The 1Mta project is expected to represent an investment of US$30m, with work on the plant scheduled to begin later this month. |
Raysut Cement and Bank Nizwa sign OMR19.5m financing agreement27 August 2019, Published under Cement NewsRaysut Cement Co has signed a OMR19.5m (US$50.6m) agreement for Shari’a-compliant financing facilities with Oman-based Islamic lender Bank Nizwa. The facilities consist of long-term financing of OMR12m, working capital of OMR3m to the cement producer’s Salalah plant and OMR4.5m for the construction and expansion of Sohar Cement Factory. Sheikh Abdul Hafidh Salim Al Barami, vice chairman of Raysut, said: "The secured Shari’a-compliant banking facilities will set us for stronger and rapid g... |
Raysut Cement Co sees revenue fall 5% in 1H1915 July 2019, Published under Cement NewsOman’s Raysut Cement Co has announced its unaudited consolidated results for the first six months of 2019. The company has seen a 5.1 per cent YoY decline in revenue to OMR41.7m (US$108.5m), compared with OMR43.94m in the 1H18. Profit before tax fell 58.1 per cent to OMR517,398 from OMR1.23m. Profit after tax decreased 27.1 per cent to OMR511,871 against OMR701,732 in the year-ago period. |