Cement News tagged under: Oman

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Raysut Cement Co sees revenue fall 5% in 1H19

15 July 2019, Published under Cement News

Oman’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.

Raysut Cement recycle bulk carrier

30 May 2019, Published under Cement News

The Raysut II bulk cement carrier of Raysut Cement Co of Oman was re-floated and recycled recently, according to shipping industry sources. Resolve Marine Group completed the complicated wreck removal of bulk cement carrier Raysut II and also made arrangements to off load damaged cargo at port of Salalah, Oman. The vessel was owned by Raybulk Navigation Inc, a subsidiary of Raysut Cement. Reportedly foreign experts were chosen for this project, because of their plan to re-float the ves...

Raysut Cement targets expansion outside Gulf region

28 May 2019, Published under Cement News

Raysut Cement Co aims to build on its recent acquisition of Sohar Cement by expanding into Africa and India. Raysut Cement's Chief Executive, Joey Gosh, signalled that further expansion for the Oman cement producer was planned in 2019. Having acquired Sohar Cement Factory LLC for US$60m, Oman Cement is now looking outside of its domestic market. "We are looking at an aggressive expansion strategy from 2019 with a view to eventually expand our production to 20Mta," said Mr Gosh. The indian ...

Raysut Cement reports 10% revenue increase in 1Q19

15 April 2019, Published under Cement News

Oman’s Raysut Cement Co has released its unaudited consolidated financial results for the 1Q19, reporting a 9.8 per cent YoY increase in revenue to OMR23m (US$59.84m) from OMR20.96m. However, profit before tax declined 77.2 per cent in the first quarter to OMR248,478, compared with OMR1.09m of the year-ago period. Total profit and comprehensive income attributable to shareholders decreased 46 per cent to OMR242,951 from OMR450,161.

Oman eyes on boosting minerals explorations

11 March 2019, Published under Cement News

The Government of Oman is planning to explore and enhance the production of minerals including raw materials for the cement industry. According to local media, Oman's mining authorities have identified investment opportunities worth over OMR300m (US$780.2m) that are linked to the exploitation and commercialisation of the country's prolific industrial mineral resources.   These minerals include gypsum, limestone, gabbro, marble, kaolin, quartz, clay, basalt, potash and dolomite – non-metalli...

Raysut Cement's production rises 14% in FY18

08 March 2019, Published under Cement News

Raysut Cement Co of Oman has released consolidated financial statements for the year ended 31 December 2018, reporting that it produced 3.398Mt of clinker and 3.326Mt of cement against 2.967Mt of clinker and 2.913Mt of cement, respectively in 2017.  The overall production of clinker is higher YoY by 14.5 per cent and cement by 14.2 per cent, respectively.   According to the report, out of total production, the parent company produced 2.051Mt of clinker and 2.11Mt of cement at its Sal...

Raysut Cement of Oman to acquire Sohar Cement

25 February 2019, Published under Cement News

Raysut Cement Co SAOG has informed Muscat Securities Market (MSM) that it has signed a letter of intent (LoI) with the shareholders of Sohar Cement Factory LLC of Oman, with respect to the purchase of all its shares. 

 According to Ghose Jotirmoy Pratul Krishina, CEO of Raysut Cement, the parties are currently discussing the terms of the proposed acquisition and company will keep its shareholders informed of any significant future developments as and when they happen. With a 240tph gr...

Raysut Cement orders new clinker cooler for Salalah plant

04 February 2019, Published under Cement News

Raysut Cement Co (RCC) has signed an agreement with Oman-based Ayoki Engineering LLC for the upgrade of the Line 3 clinker cooler at its Salalah plant. According to a media statement from Raysut, Ayoki Engineering will import all the equipment for the clinker cooler upgrade from IKN GmbH, Germany. "The upgrade of clinker cooler is in line with Raysut's strategic plan to install the latest in production technology to reduce costs as well as to scale up its plants with state-of-the-art eq...

Raysut Cement begins operation of new digital solutions

23 January 2019, Published under Cement News

Oman’s Raysut Cement Co (RCC) has begun operation of its new SAP ERP suites after five months of implementation. The SAP S/4 HANA and SAP SuccessFactors suites will help boost efficiency at the company. "Digital transformation at RCC is an ongoing agenda and the deployment of the SAP modules is a beginning," said Joey Ghose, CEO. The new SAP S/4HANA will assist the company to increase efficiency levels in business processes, while SAP SuccessFactors is a human capital management tool. "B...

Raysut Cement records 27% revenue increase in 2018

14 January 2019, Published under Cement News

Oman’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.