Cement News tagged under: Oman
Raysut Cement to get US$166.2m loan to refinance debt, Oman13 April 2012, Published under Cement NewsOman's largest cement company by market value, Raysut Cement said its board of directors decided at a meeting on Wednesday to take a OMR64m (US$166.2m) term loan to refinance an existing five-year loan. The new loan, with a tenure of 10 years, will be provided by Oman-based Bank Dhofar. In mid-February 2012, the cement manufacturer said it booked a net profit of OMR14.95m in 2011, down from OMR20.7m a year earlier. In mid-February 2012, the cement manufacturer said it booked a net prof... |
Oman forecast to see increased exports09 April 2012, Published under Cement NewsOman is expected to witness increasing exports this year thanks to demand from markets like Yemen and East Africa, a new research report has forecast. Raysut Cement is expected to be a major beneficiary as exports accounted for 32 per cent of sales in 2011, states the report by EFG Hermes. Domestic cement consumption, meanwhile, is expected to rise by seven per cent during the current year to 6Mta with local production being able to meet demand. Domestic production this year is estimated ... |
Proposed Daqm plant being studied, Oman23 February 2012, Published under Cement NewsOman Cement Company (OCC) is interested in establishing a cement plant in the port town of Daqm, the Times of Oman reports. The company is currently carrying out a feasibility study for a plant which would be a joint venture with fellow Oman cement producer, Raysut Cement. Jamal Shamis Al Hooti, chief executive of Oman Cement Company, said: “If the feasibility report says it is viable to install the plant, supply cement locally and for export market there is nothing like it. We just awar... |
Oman: competition reduces Raysut Cement’s profits14 February 2012, Published under Cement NewsOman's Raysut Cement is losing market share at home as rival UAE players offer competitive cement pricing. The country's largest cement maker reported a 28% fall in annual profit. Net income declined to OMR14.9m (US$38.6m), in line with analyst estimates, from OMR20.7m (US$53.7m) a year earlier, the company said in a filing to the Muscat Securities Market yesterday. Sales costs increased to OMR61.9m from OMR41.7m a year earlier, the company said. Oman is moving ahead with a series of i... |