Cement News tagged under: Raysut Cement
Oman: Raysut Cement raises capacity22 September 2016, Published under Cement NewsRaysut Cement announced that the new gas supply station has been commissioned at its Salalah plant and commercial operation has already begun. The new gas supply station will enable Raysut to increase its cement production capacity from 130,000tpa to 140,000tpa. The company said that its project with Barwaaquo Cement Company in Somaliland is also making good progress. The construction of the Duqm terminal has been completed and all necessary formalities are currently being processed. Comm... |
Oman: Raysut Cement upgrades16 August 2016, Published under Cement NewsRaysut Cement is in the process of completing several expansions and improvements across its domestic and international assets. One project currently underway is the upgrade of its gas supply station at its Salalah plant in Oman. The upgrade will enable the plant to receive an additional 40,000m 3 of gas as fuel per day. According to Chairman of the Board of Directors, Ahmed Yousuf bin Alawi, upon completion of the project, the plant’s production capacity will increase to approximately 1... |
Oman’s Raysut Cement Somaliland terminal on track06 May 2016, Published under Cement NewsRaysut Cement said its project with Barwaaqo Cement Co in Berbera, Somaliland, is progressing well. The Oman-based cement producer signed a joint venture agreement with the Barwaaqo Cement Co in September 2014 for building a 12,000t bagging and distribution terminal at Berbera. The project reflects an investment of US$7.5m and is expected to support the company’s expansion. At its Raysut works, the company also plans to install a 150tph rotary packing machine with an auto truck-loader, w... |
Oman: Raysut Cement reports 24% drop in 2015 net profit15 February 2016, Published under Cement NewsRaysut Cement reported a 23.6 per cent drop in 2015 net profit to OMR20.95m (US$54.4m) from OMR27.43m a year earlier. Total revenues edged 0.4 per cent higher last year to OMR94.68m. Gulf Baader Capital Markets (GBCM) said Raysut Cement''s revenue came above its estimates of OMR91.74m. The brokerage company said that despite the drop in Raysut Cement''s exports to Yemen – which accounts for almost 15 per cent of its total sales – the company managed to report good volumes, sales and earnin... |
Oman: Raysut’s nine-month net profit down14 October 2015, Published under Cement NewsOman’s largest cement producer, Raysut Cement Co (RCC), said its net profit for the first nine months of this year fell 24.24 per cent to OMR15.81m (US$41m). The company’s revenue edged down to OMR69.38m from OMR70.76m, while the cost of sales rose to OMR43.88m from OMR40.16m, the company said in a stock market filing. Gross profit also slipped to OMR25.50m, against OMR30.59m for the nine-month period of 2014. The preliminary results are subject to approval by the company’s Audit Committe... |
Raysut Cement reports 30% drop in 1H profit15 July 2015, Published under Cement NewsRaysut Cement reported a net profit of OMR10.97m (US$28.5m) for the first six months ended 30 June when it was OMR15.59m in the same period last year, a decline of 29.7 per cent, the company said. On a quarterly basis, net profit fell by 18 per cent to 4.94 in the 2Q15 from OMR6.03m in the first quarter. Revenue stood at OMR46.83m, dropping by 5.4 per cent from OMR49.5m. On a sequential basis, revenue dropped by 8.3 per cent to OMR22.4m in the second quarter versus OMR24.43m in the firs... |
Raysut sees sharp fall in operating profit06 May 2015, Published under Cement NewsOman-based Raysut Cement Co said operating profit fell sharply by 26.7 per cent in the first quarter of 2015 due to a doubling of the price of natural gas supplied by the government and rising transportation costs. Group operating profit fell to OMR6.02m from OMR8.23m in the same period of 2014. "This is mainly due to the increase in natural gas price by the government to US$3 per MMBtu from US$1.5 per MMBtu effective 1 January 2015 and increase in other costs," Raysut Cement said in its d... |
Raysut full-year profit dips, Oman09 February 2015, Published under Cement NewsRaysut Cement reported full-year net profit of OMR27.42m (US$71.22m), 0.4 per cent lower than the OMR27.52m posted in the previous year. Revenue rose 1.1 per cent to OMR94,29m from OMR93.29m, according to a company filing with the Muscat Securities Market on Thursday. A research note by Gulf Baader Capital Markets (GBCM) said the company’s revenue was in line with estimates but earnings was below its forecast of OMR28.8m. According to GBCM, group sales volumes came in at 3.8Mt but ... |
Omani producers face hike in natural gas prices01 December 2014, Published under Cement NewsOman’s two leading cement producers are looking to mitigate the effects of an impending rise in natural gas prices which are expected to lead to an increase in the cost of cement production. The country’s Ministry of Oil and Gas (MOG) is to increase the price of natural gas as of 1 January 2015. The price will thereafter increase every year for both companies at rates specified by the ministry. Last week, an advisory body to Oman’s government suggested spending cuts and tax rises to cope w... |
Raysut Cement nine-month net profit up 8% YoY12 November 2014, Published under Cement NewsRaysut Cement, Oman's biggest cement producer, reported an eight per cent increase in net profit to US$60.21m compared with US$55.71m in the same period of last year. Revenue was US$183m for the period, just ahead of the US$182m recorded in the first nine months of 2013. "While there are positive signs of growth in Oman market, the same is not being translated into cement demand due to sever competitions from the UAE suppliers. The competitions are also experienced in the Yemen and ea... |