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News Raysut Cement notes excess supply in Oman

Raysut Cement notes excess supply in Oman

Written by Global Cement staff 02 December 2024
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Oman: Raysut Cement says that production overcapacity in neighbouring countries has led to excess supply in the local market. This in turn has placed “pressure” on cement prices. The company added that exports to the Maldives, Yemen and east Africa had also slowed due to regional political instability, negative currency exchange effects and higher competition. The cement producer’s revenue fell slightly year-on-year from US$128m in the first nine months of 2023 to US$127m in the same period in 2024. However, its net loss grew from US$8.71m to US$14.6m.

Last modified on 04 December 2024
Published in Global Cement News
Tagged under
  • Oman
  • Raysut Cement
  • Results
  • Overcapacity
  • Export
  • UAE
  • GCW688
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