Displaying items by tag: Oman

Oman: Raysut Cement is reactivating a partnership with China's Sinoma Overseas Development to launch Oman's first waste heat recovery (WHR) power plant at its Salalah site, according to the Oman Daily Observer. The groundwork for the 9MW facility was originally laid in 2018. Once operational, the facility is expected to reduce the plant’s reliance on national grid power by up to 30% and reduce CO₂ emissions by more than 50,000t/yr. Engineering design and site preparations are expected to be revisited before the end of 2025.

Oman: Raysut Cement has appointed Jamal Shamis Saud Al Hooti as its chair. Khalid Masoud Ansari has been appointed as the vice chair and Liyutha Mohamed Sulaiman Al Ismaili has been appointed as the secretary of the board.

Oman: Raysut Cement has signed a memorandum of cooperation with Oman Environmental Services Holding Company (Be'ah) and Germany-based MVW Lechtenberg and Partner to explore the feasibility of producing refuse-derived fuel. The project aims to promote alternative fuel use in heavy industries, reduce waste and support Oman's environmental sustainability goals.

CEO of Raysut Cement, Hilal bin Saif al Dhamri, said "This project underscores the partnership between Be'ah and Raysut Cement in advancing the circular economy and supporting Oman's efforts to achieve carbon neutrality."

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.

Oman: Raysut Cement Company has launched a programme to recycle industrial byproducts for use as alternative fuel in cement production and electricity generation, to align with Oman's goal of net zero emissions by 2050.

Hilal bin Saif Al-Dhamri, Acting CEO of Raysut Cement, said "We use secondary industrial materials resulting from production processes across various industries. These are recycled in cement manufacturing and are categorised into two types: one that can be reused as an alternative fuel in plants, the other is used as a partial replacement to the main raw materials leveraged for cement production.” He added "We implemented a project to reuse exhaust heat and convert it to electrical energy at the Raysut Cement plant in Salalah. This innovative approach permits the plant to generate approximately 30% of its electrical energy, by reducing around 50,000t/yr of CO₂. As a result, the Salalah Raysut Cement plant stands out as environmentally friendly, distinguished by its capability to provide clean energy for cement production."

Al-Dhamri also noted that the company was able to enhance the efficiency of its Salalah plant through this programme, by reducing the clinker content while improving the performance of cement in concrete. This has reportedly contributed to a CO₂ emissions reduction of around 18% compared to ordinary cement.

Oman: Oman Cement has reported a net profit after tax of US$23.1m for the first nine months of 2024. This represented a 20.2% rise compared to the US$19.2m that the company made in the first nine months of 2023. Oman Cement’s revenue for the first nine months of 2024 was US$136.4m, a 2.9% fall compared to the US$140.5m it recorded in the same period of 2023.

Oman: Oman's solid waste management entity, Be'ah, has reported progress in its strategy to transition solid waste from landfill disposal to refuse derived fuel (RDF), according to Oman Daily Observer.

In 2023, Be'ah launched initiatives focusing on transforming waste into RDF, electrical and electronic waste and green waste. The company has signed an agreement with Oman Cement Company to provide tyre derived fuel for its energy needs, eventually expanding to include RDF. A memorandum of understanding (MoU) was signed with Oman Cement during Oman Sustainability Week to explore the utilisation of RDF as an additional alternative fuel source, according to the company’s 2023 sustainability report.

Chair of Be’ah, Ahmed al Subhi, said "We take pride in our strategic resource management initiatives, having set ambitious targets for transitioning to a circular economy, including achieving 60% waste utilisation by 2025 and 80% by 2030.”

Oman: The Financial Services Authority has reconstituted the board of directors of Raysut Cement. It has appointed Shabib Mohammed Al Darmaki as its chair with Naser Jumaa Al Zadjali, Badr Awad Al Shanfari, Ali Rashid Ali Al Shuhi and Abdulhameed Ahmed Al Balushi as members. The new board is intended to follow the role of the previous board by completing the “reorganisation and restructuring of the company and fine-tune its governance to ensure stability of its financial and operational positions to correct its path to ensure sustainable performance and protect the interest of all the shareholders and enhance the stability of the market.”

In December 2022 the Capital Market Authority (CMA) replaced the board of directors of Raysut Cement and appointed a temporary one following a financial audit. This followed the CMA publicly questioning the validity of the company’s third quarter results in 2022 when it detected ‘material misrepresentation.’

China: Huaxin Cement grew its revenue and profit in 2023 by growing its concrete market domestically and increasing its international business. Its revenue rose by 11% year-on-year to US$4.67bn in 2023 from US$4.21bn in 2022. However its operating revenue from cement and clinker declined. The group’s net profit increased by 2% to US$382m from US$373m. Its cement sales volumes grew by 2% to 76.8Mt from 75.3Mt. Concrete sales volumes mounted by 66% to 27.3Mm³.

The share of its international business grew by 16% in 2023 from 13% in 2022. Notable acquisitions in 2023 included the purchases of Oman Cement and InterCement’s assets in Sub-Saharan Africa.

Oman: Omran White Cement Company plans to build a new cement “facility” at Suhar Industrial City, Al Batinah North Governorate. The Times of Oman newspaper has reported that project will command an investment of US$2.6m. Given the price tag, the upcoming facility may be for the distribution and storage of cement, or of raw materials for cement production. Suhar Industrial City is situated within 15km of Sohar port. Omran White Cement Company’s project is one of four recently announced in Suhar Industrial City, with a combined value of US$44.2m.