Displaying items by tag: Raysut
Cargotec to supply cement-handling equipment for Raysut Cement
22 January 2014Oman: Finnish handling system provider Cargotec Oyj has won a contract to deliver a Siwertell unloading and conveying system for Raysut Cement at Duqm and Sohar ports.
The order includes a road-mobile Siwertell 10 000 S unloader unit and a road-mobile Siwertell PumpMaster blow pump conveying unit and it also covers commissioning, supervision and spare parts. The combination of screw type unloader and blow pump conveyor provides low energy consumption of mechanical unloading due to pneumatic conveying.
The system has a conveying capacity of 300t/hr. "This is a particularly high value, considering that the distance from the unloader and blow pump unit to the silo top is 270m with an elevation of 40m," commented Peter Göransson, Siwertell Sales Manager.
In June 2013, Raysut Cement approved four expansion projects worth a total US$24m. One of these entails the construction of a cement terminal at Duqm Port, including two silos with a capacity of 4000t. The terminal is set to become operational in the second half of 2014. Another project envisages the establishment of a cement terminal at Somalia's Berbera Port, as a joint venture with an unnamed local partner. The facility will have three silos, each with a capacity of 4000t.
UAE cement producers defend exports to Oman
08 January 2014UAE: Cement producers in United Arab Emirates (UAE) have defended their right to export to Oman amidst calls for curbs on imports. Raysut Cement, Oman's largest cement producer, has asked the Government of Oman to implement a ceiling on UAE imports, according to local media. However, UAE producers deny that they are flooding the Oman market.
"There's a shortage and we are covering that shortage," said Suliman Ali Abdullah Al Shehi, a sales manager at Gulf Cement. Raysut Cement has said that the market only needs 1Mt/yr of cement but that UAE producers are exporting 2.5Mt/yr. However UAE producer Fujairah Cement has estimated demand at nearly 3Mt/yr.
Raysut Cement has requested the government in Oman to cap UAE cement imports and to limit the load on each lorry crossing the border from the UAE. The UAE produces over 24Mt/yr according to the Ministry of Economy. Nearly 60% of the total cement production is exported to neighbouring countries in the region.
Raysut making moves in Somalia, Yemen and UAE
01 July 2013Oman: The board of directors at Oman's Raysut Cement has announced that it will give the green light to the firm's plans for a series of expansion moves, both at home and abroad. As part of the plan, the country's largest cement manufacturer will establish modern state‐of‐the‐art Cement Terminal inside Oman's Duqm Port for storing, packing and distribution of cement. The facilities will include two silos, each with a capacity of 4000t. The port plan is expected to commence operation in the second half of 2014.
The Raysut board has also given approval for the establishment of a modern state‐of‐the‐art cement terminal at Berbera Port in Somalia. The construction, to be undertaken as a joint venture with local partners, will see storage, packing and distribution of cement from three 4000t silos.
Additionally, the board approved the establishment of a grinding plant in Mukulla, Yemen through its sister company Mukulla Raysut. Another joint venture with a local partner, the Yemen grinding plant will have a capacity of 0.5Mt/yr and will pack cement for the Yemeni market.
Finally, Raysut is planning to improve its Pioneer Cement Industries plant in the United Arab Emirates. The expansion will see the installation of an additional cement silo, a cooling system upgrade and the installation of environmental abatement systems.
"This development and expansion will have positive impact on the performance results and profitability of the company in the future," said Raysut in a statement.
Raysut Cement plans to invest in Duqm terminal
01 May 2013Oman: Raysut Cement Company is planning to build a cement-handling terminal at Duqm port with other investors. At an industry seminar reported upon by the Times of Oman, Mohammed Ahmed Al Dheeb, group chief executive officer of Raysut Cement, said the cement handling terminal will be completed within ten months of signing a lease agreement with the Special Economic Zone Authority at Duqm. Al Dheeb added that Raysut is also planning to develop mines in Duqm for limestone.
Raysut Cement has four cement handling terminals: in Muscat, Sohar, Mukalla, and Aden. It has four production lines in Salalah with a total cement production capacity of 3Mt/yr and a fully integrated production facility in Ras Al Khaima with a capacity of 1.5Mt/yr. Raysut also owns two ships for transporting cement to different parts of Oman and other countries.
Raysut Cement's gains by 64% to US$63.7m in 2012
13 February 2013Oman: Raysut Cement Company, the Sultanate's biggest cement producer, has announced a 64.1% growth in net profit to US$63.7m for 2012, compared to US$38.8m for 2011. The company said its revenue also moved up to US$241m from US$216m, while cost of sales was edged up to US$163m from US$161m.
"A net profit of US$20m for the fourth quarter was higher than our estimate of US$15.3m, as Raysut booked an investment gain of US$3.53m. Excluding this investment gain, the recurring net profit was only 8% above our estimate," said EFG Hermes in a research note. The note added that Raysut expects stable to moderate increases in cement prices and solid year-on-year volume growth to be sustained, backed by infrastructure developments in Oman.
Mohammed Al Dheeb to withdraw resignation with Raysut
19 December 2012Oman: Mohammed Ahmed Al Dheeb has agreed to go back on his resignation and continue working for Raysut Cement Company as the Group CEO following an unanimous decision by the company's board of directors to ask him to remain in his position.
New Oman plant could bring end to dumping
14 November 2012Oman: Plans to build a cement plant in Oman's northern city of Al Duqm are progressing, with the promoters starting to identify limestone mines in the area. The project, which will have a production capacity of 3-4Mt/yr, is aimed at enhancing the availability of cement in the country to meet additional demand arising from major government-supported infrastructure projects and other construction activities.
Sources said that the Duqm cement project will be promoted by a well established 100% Omani firm, which will carry out exports through Duqm port. "It is going to be a very big project. The cement plant will be set up in coordination with the port," said a source.
Presently, the two cement producers in the country, Raysut Cement and Oman Cement, have a combined capacity of 4.7Mt/yr. However, if the capacity of Raysut's Ras Al Khaimah, UAE-based Pioneer Cement Industries is included, the total installed capacity is much higher at 6.4Mt/yr. An important advantage for the proposed cement plant is the rich deposits of limestone in the region.
In a recent forecast Raysut predicted that the construction industry in Oman would grow to US$5bn by 2016 at an average rate of 6%/yr. It supported this assertion with the news that a number of formerly suspended programmes in the United Arab Emirates (UAE) have been reinstated. However, the group added that cement supplies in Oman remain under 'significant' pressure from imports from UAE. It is estimated that UAE has an overcapacity of cement of around 65%. Raysut also expects that demand in Yemen and east Africa will aid the company.
Raysut Cement profit rises 62% to US$49.4m so far in 2012
12 November 2012Oman: Raysut Cement has reported that its profit before tax rose by 62% to US$49.4m for the first nine months of 2012. This compares to US$30.7m for the same period in 2011. Oman's biggest cement producer has attributed the increase to higher sales volumes of cement and better price 'realisation'.
Raysut Cement's revenue for the first nine months of 2012 rose by 12% to US$183m, compared to US$163m in 2011. The group's subsidiary Pioneer Cement reported a profit of US$9.79m in 2012 compared to US$3.87m in 2011.
The group produced 2.83Mt of cement in the first nine months of 2012, an increase of 21% year-on-year compared to 2.33Mt in 2011. It produced 2.63Mt of clinker, an increase of 4% year-on-year compared to 2.53Mt in 2011. The group sold 2.84Mt of cement during the first nine months of 2012, compared to 2.40Mt in 2011.
In its forecast Raysut predicted that the construction industry in Oman would grow to US$5bn by 2016 at an average rate of 6%. It supported this assertion with the news that a number of formerly suspended programmes in the United Arab Emirates (UAE) have been reinstated. Yet the group added that cement supplies in Oman remain under 'significant' pressure from imports from UAE. It is estimated that UAE has an overcapacity of cement of around 65%. Raysut also expects that demand in Yemen and east Africa will aid the company.
Oman: Cement sector players in Oman are scaling up their production capacity to meet the ever-rising local demand and also from export markets such as Yemen and various East African nations. Until recently, the Omani cement manufacturers were ‘victims’ of a cheap influx of cement from the UAE.
In 2011, imports met 25% of cement demand in Oman, mainly from the UAE where the weak construction sector had resulted in a excess of cement. Now with rising operational costs, producers in the UAE are no longer in a position to offer cement at lower prices, boosting the prospects of Omani producers.
In the first quarter of 2012 Oman Cement has seen its cement sales increase by 13.8% on a year-on-year basis, driven by lower prices and an increase in domestic construction activity.
Meanwhile, Raysut Cement group's net profit before tax soared by 37% to US$17.7m in the first three months of 2012, from US$12.9m in the same period of 2011. The profit before tax of Raysut Cement Company (RCC) soared by 26% to US$14.5m, from US$11.6m during the same periods. The group as a whole sold 0.06Mt of clinker and 1Mt of cement during the quarter that ended on 31 March 2012 against 0.03Mt and 0.83Mt respectively in the same period of 2011.
Raysut attributed its increase in profit to higher sales volume and better price realisation in spite of competition, both in the domestic and in the export markets. Construction activity in Oman is expected to continue its upswing during the current year.
Raysut Cement to take fresh loan of US$166m
18 April 2012Oman: Oman's biggest cement producer Raysut Cement Company (RCC) has decided to take a fresh term loan of US$166m from BankDhofar, BankMuscat and Oman Arab Bank. The loan has been taken to refinance existing borrowing.
RCC Chief Executive Officer Mohammed Ahmed Al Dheeb stated that extending the tenure of the loan from five to 10 years would reduce the instalment and interest rate, which require an outgoing of about US$16 – 18m during the first three years. RCC also said it had taken the new loan in order to protect itself and its subsidiaries from pressure by the existing consortium of bankers to mortgage all of its properties.
In 2011 RCC acquired United Arab Emirates' Pioneer Cement for US$172m, making it one of the largest cement producers in the Gulf region. The acquisition was financed by long-term borrowing from the consortium of bankers led by BankDhofar. The move added 1.7 – 1.8Mt/yr capacity to RCC bringing its total to about 4.7Mt/yr.
RCC posted a net profit of US$38.8m in 2011, a fall of compared to US$53.8m in 2010. It attributed the decline in profit to severe competition in the domestic and the export markets impacting both volume and the price. The company's revenue rose to US$218m in 2011 from US$169m in 2010.