Cement News tagged under: Raysut Cement

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CMA suspends trading of shares in Raysut Cement

28 November 2022, Published under Cement News

The Capital Market Authority (CMA) has suspended the trading of shares in Oman-based Raysut Cement SAOG after material misrepresentations were spotted in the company’s unaudited financial reports for the second quarter of 2022, published on 10 November 2022. According to the Oman Daily Observer, the misrepresentations were picked up during an audit of the results as they were inconsistent with international accounting standards and therefore the results do not reflect the real financial...

Raysut Cement Co plans Duqm grinding plant start up for 4Q21

23 September 2021, Published under Cement News

Raysut Cement Co's (RCC) US$30m Duqm grinding unit in Oman will come on-stream in the 4Q21. The Duqm plant will raise RCC’s group output to 7.4Mta, and help the company raise production to 10Mta by 2022. “Duqm plant will add another 1Mta to our capacity, helping us cater to Oman and other regional markets with increased supplies, where construction activity is poised to pick up in post-pandemic resurgence,” said Mr Joey Ghose, group CEO of RCC.   As part of developing the Duqm plant...

Differing priorities for Oman's leading cement players

17 September 2021, Published under Cement News

This week, Oman Cement Co announced that it is planning a 5600tpd brownfield expansion of its plant in Rusayl, Oman, as it builds a new kiln line, upgrades an existing line and shuts down some capacity. The capacity programme will improve its domestic production, which is currently behind market leader Raysut Cement. The latter catapulted its cement capacity ahead with the acquisition of Sohar Cement in 2019. The lure of foreign markets has also seen Raysut Cement expand its capcity, but bot...

Raysut Cement granted CE and NF markings

30 March 2021, Published under Cement News

Oman-based Raysut Cement Co has been granted the CE and NF markings by AFNOR Certification of France, for some products manufactured in the Salalah plant, after passing successfully the CE002:2020 or NF002:2019, NFP 15-317:2006 and NFP 15-318:2006 certifications for some cement qualities that will be exported in the Indian Ocean islands. Raysut Cement has been advised by a consulting company based in Switzerland Quadra Trading, to achieve compliance with the strict quality requirements...

Raysut Cement reports 8% rise in total revenue

02 March 2021, Published under Cement News

Oman's Raysut Cement Group has reported an OMR14.06m (US$36.57m) net loss for the full-year 2020 period, against an OMR2.26m profit in the previous year. The results were attributed to a decline in sales volume in the local market as a result of projects and lower sales realisation per tonne of cement and clinker sold in export markets due to stiff competition from the UAE, Saudi Arabia and Iran. However, the company’s total revenue increased 7.5 per cent YoY to OMR90.38m from OMR84.05m. ...

Raysut Duqm Cement Factory financing announced

21 December 2020, Published under Cement News

To support initiatives to scale up the industrial sector in Oman, ahlibank has announced the financing of OMR8.1m (US$21.1m) for Duqm Cement Factory's new cement grinding plant in Duqm Industrial Estate.  A signing ceremony with Duqm Cement Factory, a wholly-owned subsidiary of Raysut Cement, took place on 10 December, the Times of Oman reported. Signing the agreement on behalf of ahlibank was Hanaa Al Kharusi, General Manager – Corporate Banking while Raysut Cement Company was represente...

Raysut holds ground breaking ceremony for 1Mta Duqm grinding plant

11 November 2020, Published under Cement News

Raysut Cement Co (RCC) has held a groundbreaking ceremony for the start of the construction of its new US$30m grinding unit in Duqm in Oman. The development of the 1Mta Duqm plant raises the group's cement capacity to 7.4Mta. "Today’s groundbreaking is a milestone for RCC on two counts. It will contribute significantly to our ambitious capacity expansion targets of 10Mt by 2022 which is expected to be further scaled up to 22Mt in the near future. Second, it will help us generate m...

Raysut Cement reports 5% fall in revenue

15 October 2020, Published under Cement News

Oman’s Raysut Cement has announced its unaudited results for the 9M20, reporting a five per cent YoY fall in revenue to OMR65.24m (US$169.67m) from OMR62.13m in the year-ago period. The company also saw a OMR10.65m loss after tax for the nine months ending September 2020, compared to an OMR1m profit in the 9M19.

Raysut Cement posts loss in 1Q20

11 June 2020, Published under Cement News

Oman’s Raysut Cement has posted an OMR4m (US$10.4m) loss after tax in the first quarter of 2020, compared to an OMR242,951 profit in the corresponding period of last year, according to Reuters. However, revenue advanced 11.3 per cent YoY to OMR25.6m from OMR23m.

Oman enforces anti-dumping measures

06 May 2020, Published under Cement News

Oman’s Ministry of Commerce and Industry has helped introduce screening measures at the country’s border to reduce cement dumping. The anti-dumping measures began in March but have reportedly been ramped up alongside restrictions on the cross-border movement of goods in response to the COVID-19 pandemic, according to the Oman Daily Observer. "We are delighted by the action initiated by the government to limit dumping of cement," said a source at Raysut Cement. "These measures will enable R...