Business Wire

RAYSUT-CEMENT

Share
Raysut Cement Holds Groundbreaking Ceremony for US$30 million Duqm Plant in Oman

Raysut Cement Company (RCC), Oman’s largest cement manufacturer held a groundbreaking ceremony triggering the start of the construction of its new US$30 million grinding unit in Duqm in Oman.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201115005125/en/

The development of Duqm plant, a strategic expansion for the Muscat Stock Market-listed RCC will complement the company’s leadership in cement manufacturing adding another 1 million tonnes to the group output, taking the total to 7.4 million tonnes per annum.

“The groundbreaking is a milestone for RCC on two counts. It will contribute significantly to our ambitious capacity expansion targets of 10 million tonnes by 2022, expected to be further scaled up to 22 million tonnes in the near future. Second, it will help us generate more employment opportunities aiding our efforts to enhance social and economic progress in Oman,” said Group CEO, Joey Ghose.

Last year September, RCC had signed a land lease and Port of Terminal services agreement with Port of Duqm Company SAOC as part of the development of the new grinding unit.

“The new grinding unit will add more muscle to our capability to cater to the regional and global markets of RCC which continues to expand with new investments and acquisitions in Oman, Asia and East Africa,” said Mr. Salim bin Ahmed bin Alawi Al Ibrahim, Acting Deputy Group CEO.

RCC’s investments are calibrated to ensure that these are in locations where demand is high and locally available additives are at close proximity, he said, adding that the Duqm unit will help the company consolidate and strengthen its presence in Oman and the neighboring Gulf markets.

RCC has been on a spree of expansion through M&As and new investments in Oman as well as globally in the past one year.

Last May 2019, RCC acquired Sohar Cement Company SAOG in Oman at USD 60 million. RCC had also announced developing a new green field 1.2 million tonnes per annum cement plant near Tbilisi, Georgia in Eastern Europe, at an investment outlay of US$200 million last October. The plant will be developed by RCC’s wholly-owned subsidiary in the UAE, Pioneer Cement Industries, which owns concession to limestone mines in Georgia.

RCC’s latest acquisition was a majority takeover of LafargeHolcim’s cement terminal at Thilafushi Islands in Maldives in October this year. Last year, the company had also announced investing US$40 million in a new grinding unit in Berbera, Somaliland in East Africa.

“Our aim is to develop RCC 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, like for instance in East Africa, a booming market for the next 50 years,” said Mr. Ghose.

*Source: AETOSWire

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

H2SITE Secures EIC Accelerator Funding to Deploy a Flagship 1 TPD Ammonia Cracker Using Membrane Reactor Technology at a Port in North-West Europe3.7.2025 08:40:00 CEST | Press release

H2SITE has been awarded the EIC (European Innovation Council) Accelerator program for a project aimed at deploying a first-of-its-kind ammonia cracking unit capable of producing 1 ton of high-purity hydrogen per day. The system is based on H2SITE’s proprietary palladium-based membrane reactor technology, which enables the simultaneous catalytic decomposition of ammonia and selective hydrogen separation within a single unit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702142283/en/ Ammonia Cracker using Membrane Reactor Technology This breakthrough technology offers several compelling advantages over conventional ammonia cracking processes: Lowest Levelized Cost of Hydrogen (LCOH) from ammonia due to high efficiency and integrated operation Reduced energy consumption, operating at significantly lower temperatures (400–450 °C) than traditional cracking methods (typically 600–800 °C) High-purity hydrogen output, compliant

Curve Pay and Thales Join Forces to Securely Transform Digital Wallets on iPhone3.7.2025 08:00:00 CEST | Press release

This collaboration between Curve and Thales provides iOS users with greater control, flexibility, autonomy and digital-security for in-store contactless payments and digital wallets Curve, the ultimate digital wallet, today announced deepening its collaboration with Thales, the global leader in advanced technologies, delivering secure modern payment solutions for financial institutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702696837/en/ Thales D1 Platform to power CURVE PAY (Photo: Thales) This partnership comes on the back of Curve launching Curve Pay on iOS, marking a watershed moment in mobile payments. This partnership is a significant step to reshaping everyday spending, allowing Curve customers to benefit from NFC payment directly in the Curve App for contactless payments in store for all end-users on iOS and Android. Curve Pay is underpinned by Thales’ D1 platform on iOS and Android in Europe which allows

Medimaps Group Launches In Europe TBS Osteo Next-Generation Software For Advanced Bone Microarchitecture Assessment3.7.2025 08:00:00 CEST | Press release

New TBS Osteo Advanced next-generation software enhances fracture risk detection beyond standard of care in osteoporosis, a silent disease affecting over 32 million Europeans1 TBS Osteo Advanced next-generation software to be rolled-out across Europe Broad clinical adoption reinforces TBS Osteo leadership in bone microarchitecture evaluation for fracture risk assessment Subscription-based model offers ongoing services and access to future clinical innovations Medimaps Group S.A., a global leader in AI-driven bone microarchitecture imaging solutions, announces the European launch of its MDR-cleared next-generation TBS Osteo Advanced software. Following the product launch in the United States last month, this next milestone reflects the company's commitment to advancing osteoporosis detection and bone health management worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702082335/en/ Medimaps' TBS Osteo next-generatio

ISDA and Ant International Lead New Industry Report on Use of Tokenised Bank Liabilities for FX Settlement and Cross-Border Payments Under Project Guardian3.7.2025 08:00:00 CEST | Press release

Report builds on shared ledger technology and industry expertise of the co-leads as well as members of the Project Guardian FX workstreamIt includes proposed principles for leveraging tokenised bank liabilities and shared ledgers to drive industry adoption of tokenisation and enable 24/7, real-time FX settlement and lower costs for businesses globally The International Swaps and Derivatives Association (ISDA) and Ant International led the Project Guardian FX industry group to develop a new report for implementing tokenised bank liabilities and shared ledger in cross-border payments and foreign exchange (FX) settlement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702791535/en/ Report on Use of Tokenised Bank Liabilities for Transaction Banking by ISDA and Ant International, under the Monetary Authority of Singapore's (MAS) Project Guardian The joint report is produced under the Monetary Authority of Singapore's (MAS) Pr

Year-old European startup Maisa named alongside Google and Amazon in elite list of leading AI agent vendors in top global US research reports by Gartner3.7.2025 01:01:00 CEST | Press release

- First time a Spanish startup has made the list, thanks to its industry-first hallucination resistant ‘digital workers’ - AI startup is one of two European AI agent vendors in Gartner’s Hype Cycle report for Artificial Intelligence and Hype Cycle for the Future of Work lists Maisa, a rising star of enterprise AI, has been named by leading global research and advisory firm Gartner in its list of leading vendors for developing reliable AI agents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702640749/en/ Maisa founders David Villalón and Manuel Romero Inclusion in Gartner’s 2025 Hype Cycle for AI and Hype Cycle for the Future of Work marks the first time a Spanish startup has been mentioned in these influential reports. The company, which is barely a year old and made its first raise of $5m+ from leading US investors last year, now finds itself named alongside global giants Amazon Web Services, Google, Salesforce and Lan

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye