Displaying items by tag: Raysut Cement

Oman: Raysut Cement has signed a letter of intent with the shareholders of Sohar Cement to buy all of its shares. The terms of the acquisition are being discussed, according to the Oman Daily Observer newspaper. Sohar Cement runs a 240t/hr grinding plant at the Suhar Industrial Estate. Sohar Cement holds a 70% stake in the business, with UAE-based Fujairah Cement Company owning the remaining share.

Oman: Raysut Cement has signed an agreement with Ayoki Engineering for upgrading its clinker cooler line three at its Salalah plant. The local engineering, procurement and construction (EPC) contractor will source the equipment from Germany’s IKN, according to the Muscat Daily newspaper.

The existing grate cooler at the unit will be replaced by a 4000t/day IKN Pendulum clinker cooler with a guaranteed capacity of 3500t/day clinker production. The project scope includes related civil works, supply and installation works of mechanical and electrical works. Sourcing and installation of the refractory will also be under the responsibility of Ayoki Engineering through IKN. Final installation of the project is planned for the fourth quarter of 2019.

Oman: Raysut Cement has launched the use of SAP S4/HANA and SAP Success Factors as part of a change to its human resource (HR) digital business processes. SAP S4/HANA is a resource-planning package and SAP Success Factors is used to manage HR functions. The project has been supported by Fujitsui International. The implementation phase is intended to run until mid-2019.

India: Oman’s Raysut Cement plans to invest around US$700m in India by 2022. Joey Ghose, the chief executive officer (CEO) of the company, said that about US$200m has been set aside to buy majority stakes in two local producers in early 2019, according to the Hindu newspaper. Raysut Cement wants to increase its total cement production capacity to 20Mt/yr. The investment will be funded by internal revenue and loans.

The cement producer is holding talks with companies in Chhattisgarh and the coastal region of Gujarat respectively. Each company has a production capacity of around 1.2Mt/yr. Raysut Cement also intends to invest up to US$500m in these companies following their acquisition by 2022, bringing their capacity up to 5Mt/yr.

Outside of India, Raysut Cement also says it is interested in buying a 70% stake in Kenya’s ARM Cement for US$100m. It is also in discussions to acquire buy cement producers in Uganda and Djibouti. It currently has projects in development in Somaliland and Somalia. The company also holds a majority stake in Pioneer Cement Industries Georgia.

Oman: Raysut Cement Company has ordered a waste heat recovery unit from China’s Sinoma. No cost for the deal or an expected timescale has been disclosed. The company says it is the first of its kind in the country. Once completed it is expected to reduce the company’s power costs at its plant by up to 30%.

Oman: Raysut Cement has been added to a list of Sharia-compliant companies for the second quarter of 2018 compiled by the Muscat Securities Market. It joins Oman Cement, which was listed in the first quarter of 2018, according to the Oman Daily Observer newspaper. The list includes 31 publically listed companies that conform to the requirements of Islamic Sharia according to the rules approved by the Accounting and Auditing Organization for Islamic Financial Institutions, Companies on the list cover a cross-section of industrial sectors.

Oman: Raysut Cement’s turnover grew by 14.5% to US$111m in the first half of 2018 from US$97.2m in the same period in 2017. However, its profit after tax fell by 85% to US$1.8m from US$12m. The cement producer also noted that it is expected to receive US$10m from insurance claims relating to a loss of a ship and other claims relating to Cyclone Mekunu.

UAE: Raysut Cement has appointed Afzaal Qadri as the Plant Manager of its subsidiary Pioneer Cement Industries. Afzaal will report to Raysut’s chief executive officer (CEO) Joey Ghose. Qadri, aged 49 years, holds over 30 years of experience of the Cement Industry. He started his career in the cement industry in 1987 and has worked in various engineering and operational roles in the US, Saudi Arabia, UAE and Pakistan. Most recently he worked by HeidelbergCement in the US.

Oman: Cyclone Mekunu has forced Raysut Cement to stop production for eight to 10 days. The cement producer said that the storm caused external damage to its plant at Salalah and flooded production buildings and the stockyard.

Oman: Raysut Cement has inaugurated a new packing unit at its Salalah cement plant. The upgrade doubles the plant’s packing capacity. This will allow the cement producer to export an additional 1Mt/yr of bagged cement to markets in Yemen, Somalia and elsewhere in East Africa. The company spent just under US$4m on the project.