Cement News tagged under: Oman
Raysut Cement 9M profit falls15 October 2018, Published under Cement NewsRaysut Cement Co reported revenues in the first nine months of 2018 were OMR64m (US$166.5m), representing a17 per cent increase when compared with OMR54.7m in 9M17. However, the company noted a significant drop in profit to OMR2m vs OMR6.7M in 9M17. |
Oman Cement Co to use waste tyres as AF11 October 2018, Published under Cement NewsAn agreement between Oman Cement Co (OCC) and Oman Environmental Services Holding Co Be’ah will see the cement producer include waste tyres in its fuel mix. The Memorandum of Understand (MoU), signed by Be’Ah CEO, Eng Tariq Ali Am Amri, and OCC CEO, Eng Salim Abdulllah Al Hajri, formalises the scope of cooperation between the two companies. It is estimated that around 45,000tpa of waste tyres are generated in the sultanate. Due to urbanisation and an increasing population, this figure is e... |
Oman Cement unveils new brand identity25 September 2018, Published under Cement NewsOman Cement Co unveiled a new brand identity and logo to convey its strong brand value proposition that is synonymous with quality, strength and reliability. The new brand identity was launched at a function held under the auspices of H E Qais Mohammad al Yusuf, chairman of Oman Chamber of Commerce and Industry. The event was attended by Dr Abdullah bin Abbas bin Ahmed, chairman of OCC, Eng Salem bin Abdulah al Hajri, chief executive officer of OCC, other top-level officials of the company... |
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 reports loss of cement carrier17 July 2018, Published under Cement NewsRaysut Cement Company has announced total loss of its Raysut II cement carrier in the wake of Cyclone Mekunu on 25 May. The vessel is owned by Raybulk Navigation Inc, a subsidiary of Raysut Cement. The vessel ran aground at Fazayah beach, 18 nautical miles west of Salalah Port during storm. According to media reports, the group is expected to receive OMR4.129m (US$10.7m) against insurance for loss of ship and various cyclone Mekunu claims,” said Ghose Jotirmoy Pratuk Krishna, Chief Executi... |
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. |
Oman government plans mineral railway network20 June 2018, Published under Cement NewsThe government of Oman is planning a mineral railway network for the transportation of raw material for the domestic cement industry and for export. According to media, Oman Rail, a subsidiary of Asyad Group — the government’s transportation and logistics flagship — has been assigned the task of putting together a public-private partnership (PPP) framework that will arrange the financing, execution, operation and management of this ambitious national economic initiative. The proposed vent... |
Raysut Cement suspends production after Cyclone Mekuna damage30 May 2018, Published under Cement NewsRaysut Cement will shut down production in Oman for up to 10 days after the Tropical Cyclone Mekuna hit the company's Salalah factory on 25 May. Heavy rain and strong winds caused "external damage" and waterlogged the company's production facilities and stock yard. Raysut Cement's CEO, Joey Ghose, said the company's buildings had been battered by Cyclone Mekuna for two days. He said it was unclear how extensive the damage was, but added that Raysut insurers had been contacted over the issu... |
Raysut Cement records 8% increase in revenue13 April 2018, Published under Cement NewsOman’s Raysut Cement Co has announced a 8.2 per cent YoY increase in revenue for the first quarter of the financial year, to OMR21m (US$54.62m) from OMR19.4m. However, total profit attributable to shareholders has fallen 85 per cent to OMR450,149, compared to OMR3.1m of the year-ago period. While sales volumes increased approximately 32 per cent during the period, a lower sales realisation adversely affected gross profit, according to Reuters. |
Raysut Cement opens new packing line27 March 2018, Published under Cement NewsOman's Raysut Cement Co recently inaugurated a new packing line, installed by a leading European equipment manufacturer. The new line will double the packing capacity at its Salalah plant, enabling the company to supply an additional 1Mta of bagged supply to the export markets of Yemen, Somalia and east Africa. The project represents an investment of OMR1.5m (US$3.9m). |