Raysut Cement Co. RCCI

0.41 -0.01 -3.34 %

Raysut Cement mulls new plant in Georgia

(4/16/2018 7:28:00 AM)

Raysut Cement Company (SAOG), the largest producer of cement in Oman, has approved an initial study to consider building a 1 mt/yr cement plant in Georgia.

Joey Ghose, the CEO of Raysut Cement Company SAOG, announced that the Board of Directors of the company have approved initial research to be carried out for the establishment of a 1 million ton per annum integrated cement plant in Georgia.

Raysut Cement through its 2nd tier subsidiary Pioneer Cement Industries Georgia Limited, owns a mine with over 30 million tonnes of limestone reserves some 60 kilometres away from the capital city Tiblisi.

Ghose added that this new investment fits well into Raysut Cement’s 5-year strategy of growing into a 20 million tonne cement company by the year 2022 and he expects a final decision to be taken latest by June this year. Discussions have also commenced with possible partners for both equity participation and EPC contracting.

Raysut Cement Company is strategically located in Salalah, Oman, with a customer base across Oman, Yemen, Somalia, Mauritius, Qatar, Iraq, Tanzania, Sudan and beyond. The company’s network includes five storage and packing terminals.

Raysut Cement Company expanded its production bases to Ras Al Khaimah in the UAE through 100 per cent acquisition of Pioneer Cement Industries LLC, an integrated cement and clinker grinding plant, in 2011. Raysut Cement Company distinguishes itself from other cement producers in the region by the variety and quality of its products and customer-focused marketing and logistics.

Oman Daily Observer