Displaying items by tag: Oman

Oman: Raysut Cement Company’s new cement terminal at the Port of Duqm is likely to start operations in the third quarter of 2016, according to an official at the Port of Duqm Company. Reggy Vermeulen, the port’s CEO, told the Oman Tribune that the unit is currently at the pre-trial stage and the firm and various authorities, including Royal Oman Police, are testing equipment at the facility, including that used for fire-fighting. Once this process is over, trials will take place in the third quarter of 2016 and operations could start in the same quarter.

Oman: Raysut Cement Company (RCC) has recently launched a new silo at its cement plant in Salalah. The storage capacity of the new silo is 20,000t. It has a diameter of 30m and a height of 43m. RCC say it is one of the largest silos in the region.

The silo contains three compartments with a capacity of 3000 - 12,000t. It is designed to hold Ordinary Portland Cement, sulphate-resistant cement and oil well cement. The silo also contains two units for the loading of bulk cement with a delivery rate of 300t/hour. Weighbridges have been fitted beneath the silo to allow direct weighing of bulk cement before it is packed. The new silo will feed a proposed packing plant with 150t/hour of cement. This new packing plant is expected to be completed in the fourth quarter of 2016.

RCC intends to use its new silo and packing plant to target local and international markets.

Somaliland: Raysut Cement, a cement producer based in Oman, has revealed that its project with Barwaaqo Cement Company in Berbera, Somaliland is progressing well. Raysut Cement signed a joint venture agreement with the Barwaaqo Cement Company in September 2014 to build a terminal for packing and distribution of bagged and bulk cement. The terminal will have a storage capacity of 12,000t and will be built with a capital expenditure of US$7.5m, according to the Times of Oman.

Oman: Raysut Cement reported a 21.5% drop in fourth-quarter net profit, according to Reuters’ calculations. The largest cement firm by market value in the sultanate made US$13.4m in the three months ending 31 December 2015, compared with US$17.0m in 2014. Raysut’s net profit for 2015 was US$54.6m, down by 23.6% on the US$71.2m it earned in the previous year.

Oman: Oman Cement Company reported a net profit of US$12.2m in the fourth quarter of 2015, a 172% year-on-year rise and a 208% quarter-on-quarter rise. Sales revenues were US$37.7m, a rise of 4% year-on-year.

The company did not provide further details on cement unit sales or prices, but it is possible that the company may have been able to sell a larger-than-expected quantity of cement during the quarter.

Oman: Raysut Cement Company has signed an agreement with Arabian Industries for the installation of a gas pressure reduction station (GPRS) at its Raysut plant. Oman Gas Company has been appointed as the Project Management Consultant. Upon completion of the GPRS, cement production will be boosted by 120,000-130,000t/yr. Total investment in the project is estimated at US$5.45m.

Oman: Oman Cement's revenue increased by 4% year-on-year to US$31.6m for the third quarter of 2015. On a quarter-by-quarter basis, its revenue grew by 12.4%. Oman Cement's net profit was US$4.02m compared to US$6.03m in the third quarter of 2014.

Oman: Raysut Cement has reported an 8.5% decrease in its net profit in the third quarter of 2015, according to Reuters. The company made US$12.6m in the three months that ended on 30 September 2015, compared with US$13.7m in the same period of 2014. Two analysts polled by Reuters have forecast that Raysut Cement would make a quarterly net profit of US$10.9 – 11.1m.

Somalia/Oman: Raysut Cement is in the process of setting up a subsidiary firm, Barqaaqo Cement Company, to supply cement mostly to Somalia through a newly built terminal there. Raysut Cement will have 51% stake in the newly-formed Barwaaqo Cement Company.

Oman: According to Reuters, Raysut Cement posted a 33% drop in its second-quarter net profit. It made US$12.8m in the second quarter of 2015 compared with US$19.1m in the same period of 2014. Raysut Cement reported a first-half post-tax profit of US$28.5m compared to US$40.5m in the same period of 2014.