Displaying items by tag: Oman

Oman: Al Madina Cement Company recorded a net profit of US$48.2m in 2019, up by 61% year-on-year from US$29.9m in 2018. Its sales rose by 54% to US$141m from US$91.9m in 2018.

Madagascar: Oman-based Raysut Cement has shared plans for a US$30m, 0.75Mt/yr clinker grinding plant in Toamasina, Madagascar. L’Express de Madagascar newspaper has reported that Raysut Cement will begin construction in June 2020 and enter production at the facility in mid-2022 at the latest. Raysut Cement Indian Ocean regional director Pascal Naud said, “Madagascar’s pre-capita cement consumption is around 22kg/yr, compared to 125kg/yr on average in sub-Saharan countries. It is therefore a market with high potential for this investment.”

On 2 February 2020 Raysut Cement entered into talks with Switzerland-based Cementia for acquisition of the latter’s 75% stake in the latter’s LH Maldives cement terminal. The group said it is currently ‘developing an external growth strategy by investing in several African countries such as Kenya and Uganda.’

Oman: Oman Environmental Services Holding Company (Be'ah) has signed an agreement with Oman Cement Company, in which Be'ah will supply expired tyres to the cement producer for use as an alternative fuel.

The agreement was signed by Eng Tariq bin Ali al Amri, CEO of Be'ah, and Eng Salem bin Abdullah al Hajri, CEO of Oman Cement Company. Eng Hajri reported that the agreement will contribute to the national economy, diverting 30,000t of waste tyres from landfill.

Maldives: Oman-based Raysut Cement has announced that it is seeking a 75% stake in a cement terminal in the Maldives, as part of its long-term global expansion strategy.

In a disclosure filed with the Muscat Securities Market (MSM) in Oman, Raysut stated, “Raysut Cement Company wishes to inform that it is in discussions with Cementia AG of Zurich to acquire its 75% shareholding in LH Maldives Ltd, a cement terminal located at Thilafushi Island, Maldives.” Both Cementia and LH Maldives are controlled by LafargeHolcim.

Raysut Cement is also constructing a 1.0Mt/yr cement grinding plant in collaboration with MSG Group in Somaliland, internationally recognised as an autonomous region of Somalia. In September 2019 Raysut signed an agreement to set up a 1.0Mt/yr grinding plant in Duqm, Oman and is also setting up a US$200m integrated cement plant in Georgia via its UAE-based subsidiary Pioneer Cement.

Oman: Raysut Cement’s revenue fell by 7.6% year-on-year to US$223m in 2019 from US$241m in 2018. However its profit for the year before tax rose five-fold to US$13.8m and its expenses fell by 12% to US$208m.

Oman: Alsahawa Cement Company (ACC), the newly-founded Oman Cement Company (OCC) subsidiary, will operate the group’s upcoming Duqm cement plant, for which an engineering, procurement and construction (EPC) contract tender has been issued. Bidding is due to close on 27 February 2020.

The new facility will include a coal-fired power plant and waste heat recovery (WHR) power plant. OCC Chief Executive Officer Salim Abdullah Al Hajiri described the commissioning of the 1.7Mt/yr integrated plant as a ‘reverse integration’ process, whereby the plant will initially grind clinker produced at other OCC cement plants beginning in September 2021 before upgrading to fully integrated cement production in March 2022.

Oman: Oman Cement Company has appointed Fatick Hussain Al Balushi as its chief financial officer (CFO). Fatick holds over 15 years of experience in the oil and gas and petrochemical industries. He worked for the Oman Oil Company and its subsidiary, the Salalah Methanol Company, in a variety of roles including financing manager for the ammonia project, head of finance and information technology (IT) and finance director. He is an alumni of the Sultan Qaboos University in Oman and the University of Leicester in the UK.

Oman: Al Tasnim Cement Products has opened a 425m³/hr ready-mix concrete plant in Duqm’s Special Economic Zone. Arab Finance has reported that four batching plants will supply cement to the facility; one on-site and three elsewhere in Duqm.

Georgia: Oman’s Raysut Cement is set to start building a new 2Mt/yr integrated cement plant near Tbilisi with an investment of US$200m. Raysut Cement’s subsidiary Pioneer Cement is managing the project. It owns a concession to a limestone mine in the country that will be used to support the proposed plant. Construction work at the site is scheduled to start in mid-November 2019.

Oman: Raysut Cement, Oman’s leading cement producer, has taken a step forward in the implementation of its 1Mt/yr Duqm grinding plant plans by securing a land lease and port of terminal services agreement from the Port of Duqm. Raysut chief executive Joey Ghose has said that the Duqm unit will help to secure Raysut’s presence ‘in Oman and the neighbouring Gulf markets,’ as well as support strategic investments oversees. Raysut’s 6.4Mt/yr integrated capacity extends from East Africa to the Caucasus. The company has India as its next phase expansion target.