Cement News tagged under: Raysut Cement Co
Raysut Cement establishes partnership for Somaliland plant04 July 2019, Published under Cement NewsOman’s Raysut Cement Co has established a partnership with MSG Group to set up a grinding unit in Somaliland, an autonomous region of Somalia. The 1Mta unit is expected to be constructed in Berbera, Somaliland, at an investment of around US$40m. Raysut reportedly has 55 per cent of the share capital of the project, according to Reuters. |
Raysut Cement records 27% revenue increase in 201814 January 2019, Published under Cement NewsOman’s Raysut Cement Co has announced its unaudited consolidated results for 2018, recording a 26.6 per cent YoY rise in revenue to OMR90.98m (US$236.6m) from OMR71.9m last year. However, the company noted a 28.5 per cent fall in profit after tax to OMR4.16m, compared with OMR5.81m of the year-ago period. |
Raysut Cement targets international expansion10 December 2018, Published under Cement NewsThis week Oman's Raysut Cement Co announced that it is planning to expand its portfolio by entering the Indian cement markets of Gujarat and Chhattisgarh, as well as targeting a 70 per cent stake in the distressed Kenyan producer ARM Cement, which is up for sale with debts of US$140m. The investments are all part of Raysut Cement's medium-term plan to substantially raise cement capacity from 6Mta to 20Mta by 2022. The acquisitions in India will represent an initial total investment of US$20... |
Raysut Cement awards WHR contract to Sinoma04 December 2018, Published under Cement NewsOman's Raysut Cement has awarded the contract for the installation of a waste heat recovery (WHR) system to Sinoma Overseas Development Co of China. The project is reported to be the first of its kind in Oman. On behalf of Raysut Cement, CEO Joey Ghose signed the agreement with Meng Qinglin, CEO of Sinoma Overseas Development Co, in the presence of Shaikh Ahmed bin Yousef bin Alawi bin Abdullah Al Ibrahim, chairman Raysut Cement’s Board of Directors. The new system will use waste heat fr... |
Al Wusta’s Duqm cement plant requires project finance15 August 2018, Published under Cement NewsOman’s Al Wusta Cement is currently looking for project finance from international for its Duqm cement plant project. Total project investment is estimated to be US$85m. Al Wusta, a joint venture between Oman Cement Co and Raysut Cement Co, is analysing project feasibility studies with the EPC process expected to start in the 4Q18. Procurement talks will begin soon after with equipment likely to be purchased from foreign equipment suppliers, according to Anil, project engineer at Raysut Ce... |
Raysut Cement 1H18 profit falls16 July 2018, Published under Cement NewsRaysut Cement Co reported a 14.4 per cent increase in revenues in the first half of 2018. Revenues advanced to OMR42.8m (US$111.3m) from OMR37.4m in 1H17. However, the Omani cement producer’s profit attributable to shareholders during the first six months of 2018 fell 84.8 per centto OMR701,731 from OMR4.6m a year ago. |
Raysut reports 67% profit after tax fall15 January 2018, Published under Cement NewsRaysut Cement Co of Oman has reported a 22.4 per cent drop in initial unaudited consolidated revenues in 2017 to OMR71.895m from OMR92.588 in 2016. The company’s operational profit fell by 65 per cent to OMR7.862m from OMR22.408m in the previous year. Profit before tax also saw a significant decrease at 60 per cent to OMR9.167m from OMR22.896m. Profit after tax decline by 66.6 per cent to OMR6.916m from OMR20.71m. |
Joey Ghose new CEO of Raysut Cement28 November 2017, Published under Cement NewsOman’s Raysut Cement Co has appointed Joey Ghose as new CEO of the company, effective 2017, reports the company in a filing to the Muscat Securities Market. It is expected Mr Ghose will bring his extensive experience in the cement industry to bear as he addresses the challenges faced by the company. Changes to the income tax law in Oman resulted in a 60 per cent fall in 9M17 profit for the producer and local market competition and tough export markets have contributed to lower sales volum... |
Oman: Raysut Cement 3Q profit falls 23%14 October 2016, Published under Cement NewsRaysut Cement Company reported a 22.5 per cent fall in its 3Q16 profits, according to a bourse statement. Profits reached OMR3.76m (US$9.7m), compared to OMR4.85m in 3Q15. In the first nine months of 2016, net profits increased five per cent to OMR16.66m from OMR15.81m in the equivalent period of 2015. |
Oman: Raysut Cement launches one of largest cement silos19 May 2016, Published under Cement NewsOman’s Raysut Cement Co recently launched a new multi-chamber silo at its site in Salalah. The new silo will be able to store 20,000t and is considered one of the largest cement silos in the region with a diameter of 30m and 43m high. The three chambers have a storage capacity between 3000-12,000t each and will be used for ordinary Portland, sulphate-resistant and oil well cement. Bulk cement loading will be carried out at a rate of 300tph. In addition, the new silo includes a packing plan... |