Displaying items by tag: Oman

Oman: Raysut Cement welcomed a delegation from Sinoma Overseas to its Salalah cement plant to strengthen cooperation in industrial development and sustainability initiatives, according to the company. Discussions centred on enhancing energy efficiency and advancing the companies’ ongoing waste heat recovery (WHR) project, which they say will reduce emissions and supply a substantial share of the plant’s power needs.

The project was announced in April 2025 and will be Oman’s first waste heat recovery plant, with a capacity of 9MW, according to local press. Once operational, the facility is expected to reduce the plant’s reliance on the national grid by 30% and avoid 50,000t/yr of CO₂ emissions.

Oman: Raysut Cement has signed an exclusive distribution agreement with Somalia-based Barwaaqo Cement, valued at approximately US$45m/yr. The agreement will remain in effect until 14 September 2026. According to an official statement, the deal is expected to enhance capacity utilisation and improve overall returns.

Oman: Raysut Cement has appointed Rashid Ali as its Acting CEO. He started his tenure at the start of October 2025. The position will last for three months.

Ali was working as Group Chief Financial Officer and has taken on the role of Acting CEO in addition to this. He holds over 30 years of experience in automative, facilities management, real estate and retail sectors. Notably he worked for DAMAC, Jumeriah International and Renaissance. Ali is a registered chartered accountant.

Oman: Raysut Cement has appointed Khalid Ramis as the General Manager of its Salalah plant and Raashid Ali as its Group Chief Financial Officer.

Khalid Ramis holds over 30 years of experience in the bank, finance and cement industries. He has worked for Raysut Cement since 2019. Before this he held positions with Bank Muscat and BankDhofar.

Raashid Ali holds over 30 years of financial experience in the automative, facilities management, real estate and retail sectors. He has held senior roles at DAMAC, Jumeirah International and Renaissance. He is a chartered accountant.

Oman: Raysut Cement reported a consolidated net loss of US$7.5m for the first half of 2025, up from US$3.9m year-on-year, despite a 31% rise in group revenue to US$108m in the six months to 30 June 2025. The increase was reportedly driven by improved sales in domestic and export markets, including Yemen, the Maldives and East Africa.

A new board, appointed in March 2025, has launched a five-point restructuring plan to restore profitability by 2026, addressing debt, streamlining operations and improving efficiency. The company continues to face regional overcapacity, currency risks and competition from Asian producers.

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.