Displaying items by tag: Oman

Iran: Cement production rose by 14.4% year-on-year to 35.6Mt in the first half of the local calendar year that started in March 2020 from 31.1Mt in the same period in the previous year. The sector exported 5.8Mt of cement with a value of US$128m to 28 countries according to the Mehr News Agency. India, Afghanistan, Russia, Iraq, Qatar, Kenya, Kuwait, Sri Lanka, Pakistan, Armenia, Turkmenistan, Kazakhstan, Azerbaijan, Bangladesh, China and Oman were among the export destinations of cement.

Oman: Raysut Cement has held the groundbreaking ceremony for its new 1.0Mt/yr Duqm grinding plant. The project will cost US$30m. Chief executive officer (CEO) Joey Ghose said that, when operational, the plant will “contribute significantly to our ambitious capacity expansion targets of 10Mt/yr by 2022, which is expected to be further scaled up to 22Mt/yr in the near future. Secondly, it will help us generate more employment opportunities, aiding our efforts to enhance social and economic progress in Oman.”

The company acquired the lease to the site in the Port of Duqm in September 2019 as part of an on-going series of ‘calibrated’ investments in “locations where demand is high and locally available additives are at close proximity.” Ghose added, “Our aim is to develop Raysut Cement into a global leader in cement manufacturing, supply and exports, and the development of Duqm is an important element in this strategy. Our expansions are dovetailed to the opportunities that exist and are upcoming in the markets we focus on, for instance in East Africa - a booming market for the next 50 years.”

Oman: Duqm Cement Projects International (DCPI) is set to begin construction of its new 3.5Mt/yr-capacity integrated cement plant at the port of Duqm. The Times of Oman newspaper has reported the value of the company’s investment in the plant as US$435m. DCPI said, “The economy of scales resulting from the envisaged capacity of 10,000t/day, coupled with the latest technology, would help us in achieving our aim of becoming one of the most efficient cement producers in the region.”

Oman: Oman Cement recorded a profit of US$7.27m in the first nine months 2020, up by 3.7% year-on-year from US$7.01m. Reuters News has reported that revenues rose by 4.3% to US$10.4m from US$9.95m.

Oman: Raysut Cement has appointed Salim Ahmed Alawi Al-Ibrahim as Acting Deputy Group chief executive officer (CEO). He will support Raysut’s Group CEO Joey Ghose in the role. Salim has been with Raysut Group since 2014 and has been described as ‘contributing significantly’ to the company in the sales department.

Mohammed Ahmed Aideed has also been promoted as the Acting General Manager of Raysut Cement. Mohammed holds over a decade of experience in sales and marketing and has been working with Raysut Cement since 2009. He started his career as a sales representative and subsequently moved up to managerial positions. He has also held senior positions such as Head of Marketing and Business Intelligence, Acting CEO and Head of Business Support.

Iran: Data from the Islamic Republic of Iran Customs Administration (IRICA) shows that cement producers exported 5.85Mt of cement in the first five months of the local 2021 financial year, which began on 20 March 2020. The value of cement exports fell by 52% year-on-year to US$128m from US$266m, according to the Tehran Times newspaper. Iraq, Kuwait and Afghanistan were the top destination for the exports. Cement was also sent to India, Russia, Qatar, Kenya, Sri Lanka, Pakistan, Armenia, Turkmenistan, Kazakhstan, Azerbaijan, Bangladesh, China, and Oman.

In its 2020 financial year Iran exported a total of US$7.0bn-worth of building materials and produced 85Mt of cement against a domestic consumption of 65Mt.

Oman: Oman Cement’s net profit for the first half of 2020 was US$5.39m, down by 9.9% year-on-year from US$5.98m in the first half of 2019. Sales rose by 1.1% to US$68.6m from US$67.9. The results are subject to approval by the audit committee and board.

Oman: Raysut Cement has appointed Jitender Singhvi as its chief financial officer (CFO). He was previously the head of the company’s Internal Audit unit. Singhvi holds over 20 years of experience in audit, assurance and advisory functions.

Oman: Oman Cement subsidiary Al Sahawah Cement has said that the deadline for bids for two tenders for engineering, procurement and construction (EPC) of its new Duqm integrated cement plant’s 5000t/day kiln lines and mill. The Oman Daily Observer newspaper has reported that Al Sahawah Cement will commission the grinding plant in September 2021, with full commissioning of the integrated plant to follow in March 2022. The company is also tendering for bids for a third EPC contract for the supply and installation of a 30MW waste heat recovery (WHR) power plant. The entire plant has a cost of US$212m.

Oman: Cement producers have reacted positively to anti-dumping measures implemented by the Ministry of Commerce and Industry. The Oman Observer newspaper has reported that the measures, which consist of quality screening, have, since coming into force on 1 March 2020, been ramped up in construction, with a general restriction of the movement of goods due to the coronavirus. Raysut Cement said, “These measures will enable Raysut Cement and our peers Oman Cement to operate at full capacity. We hope that the authorities will continue to strictly enforce this measure in the interest of fair market competition.”

Raysut Cement said that it is ‘Aggressively pushing ahead’ with its US$30m Port of Duqm grinding plant project, which is due for commission in March 2021. “It is a good time for countries like Oman to become self-sufficient in the domestic availability of a strategic commodity like cement,” it said. On 4 May 2020 Raysut Cement announced plans to lobby the government for a gas or electricity subsidy.

Oman’s cement demand is currently 20-25% below pre-lockdown levels.