Cement News tagged under: Raysut Cement Company

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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.

Oman: Raysut Cement 2Q16 profits fall 2%

14 July 2016, Published under Cement News

Raysut Cement Company (RCC) reported a decline by two per cent in its second-quarter profits, according to a bourse statement. Profits reached OMR4.8m in 2Q16, compared to OMR4.9m (US$12.72m) in 2Q15. Moreover, net profits stood at OMR12.9m |(US$33.5m) in the first half of 2016, an increase of 17.8 per cent from OMR10.96m in the first half of 2015.

Oman: Raysut Cement 1Q16 profits up 34%

15 April 2016, Published under Cement News

Oman’s Raysut Cement reported a 34 per cent increase in 1Q16 net profit on Wednesday, according to a bourse statement. The largest cement firm by market value in the sultanate made OMR8.08m (US$20.9m) in the three months ending 31 March, compared with OMR6.03m in the same period of 2015. Analysts at EFG Hermes and Gulf Baader Capital Markets forecast Raysut would make a quarterly net profit of OMR5.70m and OMR5.83m, respectively.

Raysut Cement, Arabian Industries sign OMR2.1m deal

16 December 2015, Published under Cement News

Raysut Cement Co has signed an agreement with Arabian Industries to implement a project to increase the competency of the Omani company’s gas pressure reduction plant (GPRP). The project is estimated to cost OMR2.1m (US$5.4m) and is expected to be completed in May 2016. Oman Gas Co has been nominated as the project services management consultant, Raysut Cement said in its filing with the Muscat Securities Market on Tuesday.

Raysut signs Somaliland jv terminal project

15 September 2014, Published under Cement News

Omani producer Raysut Cement has announced that it has agreed a deal with Barwaaquo Cement of Somaliland to operate a joint venture terminal for the packaging and distribution of cement. The two companies will build a US$7.5mn terminal in the port city of Berbera which will have the ability to store and distribute both bagged and bulk cement set to be delivered from Oman by sea. It will have a capacity to store up to 12,000t of cement and completion is scheduled for the end of 2015. R...

Oman: Port of Salalah terminal expansion to help Raysut Cement

18 November 2013, Published under Cement News

Archirodon Construction is building a new general cargo terminal (GCT) at Oman's Port of Salalah, leading to a number of major investors expressing interest in shipping dry and liquid bulk commodities from the new facility. The project, which also includes a liquid jetty at the port, is expected to be completed in 1H14. At present, the port continues to handle significant volumes for local customers such as Raysut Cement. Major commodities of trade at the GCT include limestone, methanol a...

Raysut Cement board approves US$24m investment plan

06 June 2013, Published under Cement News

The board of directors of Raysut Cement, Oman, has approved investments in four projects totalling US$24m in markets where the company is already present as well as new venture in Somalia. The projects include a cement terminal in Duqm port, Oman, which will also see the construction of two silos with a capacity of 4000t. The Duqm project is set to start operations in the second half of 2014. The company is also constructing a similar terminal at Somalia's Berbera Port which is a joint...

Raysut Cement to construct terminal in Port of Duqm, Oman

01 May 2013, Published under Cement News

Oman’s leading cement producer, Raysut Cement Company (RCC), is planning to construct a cement terminal at Duqm port as well as develop limestone mines in Duqm. Mohammed Ahmed Al Dheeb, Group chief executive officer of RCC, told delegates during a seminar on ‘GCC Investment Prospects at Duqm Special Ecnomic Zone,’  that the terminal will be completed within 10 months of signing a lease agreement with the Special Economic Zone Authority at Duqm. The Times of Oman quoted him as saying: ...