Cement News tagged under: Raysut Cement Company

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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.

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 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 reports loss of cement carrier

17 July 2018, Published under Cement News

Raysut 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 opens new packing line

27 March 2018, Published under Cement News

Oman'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).

Raysut Cement to look at 1Mta plant in Georgia

22 March 2018, Published under Cement News

Oman’s Raysut Cement Co is planning to carry out an initial study for a 1Mta plant in Georgia, according to Muscat Daily. The company’s subsidiary, Pioneer Cement Industries Georgia Ltd, already owns a mine with over 30Mt of limestone reserves, located 60km from Tbilisi. According to a disclosure filed to the Muscat Securities Market, Raysut Cement has begun discussions with possible partners for both equity participation and engineering, procurement and construction contracting. A decisi...

Raysut Cement reports negative results for 2017

27 February 2018, Published under Cement News

Oman-based Raysut Cement Company has reported negative sales revenue and net earnings results due to competition from UAE producers and ongoing socio-economic disturbances in Yemen, according to the Times of Oman. "There has been severe competition across markets, coupled with socio-political disturbances in Yemen. Unabated supply of cement from the UAE due to surplus capacity and price decline has caused a dent in prices and volume of sales in the northern markets of Oman," stated the com...

Raysut to hold EGM on Oman Portuguese Cement Products sale

14 July 2017, Published under Cement News

Raysut Cement has invited its shareholders to attend an extraordinary general meeting (EGM) to discuss and approve the sale of Raysut Cement’s entire share in Oman Portuguese Cement to Opal Development Co LLC. The EGM will be held on 25 July, Salalah-based Raysut Cement said in a filing to the Muscat Securities Market on Wednesday. Raysut is reportedly planning to sell its entire stake in Oman Portuguese Cement Products Co to Opal Development Co LLC, according to the Muscat Daily. Ra...

Raysut Cement Co net profit down 62%

12 May 2017, Published under Cement News

Raysut Cement Co reported a 61.76 per cent decline in its net profit in 1Q17 impacted by lower sales volume and increased tax rate, according to its quarterly report submitted to the Muscat Securities Market on Tuesday. Group net profit fell to OMR3.09m versus OMR8.08m in the same period a year earlier. The decline was attributed to a significant increase in the cost of electricity, lower sales volumes and an increased tax rate from 12 to 15 per cent, the Muscat Daily reported. During ...

Oman: Raysut Cement net profits rise in 2016

16 January 2017, Published under Cement News

Raysut Cement has reported a 1.02 per cent growth in net profits of OMR21.17m (US$54.98m) for 2016, against OMR20.95m reached in 2015. Total revenue of the company fell by 2.2 per cent to OMR92.59m in 2016, from OMR94.68m in 2015, according to preliminary results posted by the company on the MSM website. The cost of sales of the company edged up by 3.3 per cent to OMR61.13m in 2016, from OMR59.18m in 2015.