RAYSUT-CEMENT
15.11.2020 12:06:09 CET | Business Wire | Press release
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20201115005125/en/
Link:
About Business Wire
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
FDA Issues Modified Risk Tobacco Product Orders for 20 ZYN Nicotine Pouch Products30.6.2026 18:19:00 CEST | Press release
FDA’s decision makes ZYN the first nicotine pouch product to receive MRTP orders authorizing reduced-risk claims versus cigarettes Philip Morris International Inc. (PMI) (NYSE: PM) today announced that the U.S. Food and Drug Administration (FDA) issued Modified Risk Tobacco Product (MRTP) orders for 20 variants of ZYN nicotine pouch products. These are the first MRTP orders granted for nicotine pouches, allowing PMI U.S. to market the following claim for the authorized ZYN products: “Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis.” “FDA’s decision is an important moment for the more than 45 million legal-age nicotine consumers in America,” saidStacey Kennedy, PMI U.S. CEO. “Today’s news ensures these adultshave access to accurate, science-based information, including FDA-authorized evidence that switching from cigarettes to ZYN reduces the risk of smoking-related diseases like heart disease
Caidya Announces Strategic Combination with Simbec-Orion Bridging Early Scientific Insight and Global Clinical Execution30.6.2026 17:00:00 CEST | Press release
Caidya today announced a strategic combination with Simbec-Orion designed to close the divide between early scientific insight and global clinical execution. The combination of Caidya and Simbec-Orion creates a differentiated specialty clinical CRO platform that enables programs to scale, maintaining focus, speed, and accountability. The strategic combination brings together complementary strengths to create a more complete development partner for innovative biopharma companies. With established operations across Europe, the Americas, APAC, and China, the combined organization provides meaningful expertise and execution capabilities in the regions that matter most. Simbec-Orion brings early-phase clinical pharmacology capabilities alongside deep therapeutic expertise for later stage complex oncology and rare disease trials, helping sponsors shape critical decisions early in the development lifecycle. Together, the organizations strengthen their ability to support complex, cross-border
Archer® Proves Purpose-Built AI Beats General-Purpose LLMs on Regulatory Change Management: 95% Verified Accuracy, 80x Faster, 92% Lower Cost30.6.2026 16:13:00 CEST | Press release
In a head-to-head benchmark, a leading general-purpose LLM was confidently wrong 35% of the time on regulatory dates. Archer Evolv™ shipped zero errors. For enterprises deploying AI in compliance, a wrong date is a missed deadline. The more dangerous failure is a wrong answer the model returns with high confidence, one that flows silently into a compliance calendar and is only discovered after the window has passed. Archer® today released results showing purpose-built AI beats a general-purpose large language model (LLM) on regulatory work, and it’s not close. This head-to-head test compared Archer’s purpose-built, vertical-specific AI and proprietary data sets against a leading general-purpose LLM, on a core compliance task: determining the publication, effective and comment-close dates of regulatory documents across six jurisdictions. General-purpose models are a genuine breakthrough, and this is no referendum on their quality. The question Archer set out to answer is narrower and mo
Altasciences Supports Key Development Milestone for Steel Therapeutics’ Lead Therapeutic Candidate, Fizurex™30.6.2026 16:08:00 CEST | Press release
Altasciences, a leading drug development organization, today announced a significant milestone in the development of Steel Therapeutics, Inc.’s pivotal toxicology study for its lead product candidate, Fizurex™, for the treatment of anal fissures. The successful completion of the study plays a significant role in the advancement of Fizurex™ toward first-in-human trials. The GLP-compliant study demonstrated a favorable safety profile, which has advanced Steel Therapeutics' plans to submit an Investigational New Drug (IND) application for Fizurex™ to the FDA in Q3 2026. Fizurex™, a patent-pending, single-use topical wipe, was designed to provide a standardized, accessible treatment option for a painful and often undertreated medical condition. The product builds on years of use through compounding pharmacy prescriptions and is now advancing toward clinical development and regulatory review. "We are proud to have supported Steel Therapeutics with the generation of the high-quality safety d
Interactive Brokers Expands Access to Korean Equities with Launch of Nextrade ATS30.6.2026 16:00:00 CEST | Press release
IB SmartRouting℠ Routes Orders to the Best Available Price Between KRX and Nextrade Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the launch of select Korean equities through Nextrade, South Korea's first Alternative Trading System (ATS). The addition of Nextrade builds on Interactive Brokers' earlier launch of the Korea Exchange (KRX), through which it became the first major US-based broker to provide global investors with direct access to Korean equities. Clients trading on Nextrade benefit from significantly extended trading hours and access to additional liquidity. Interactive Brokers has enabled IB SmartRouting℠ across both the Korea Exchange (KRX) and Nextrade, automatically routing orders to the venue offering the best price. This helps clients achieve best execution while providing greater flexibility and more opportunities to participate in one of Asia's most dynamic equity markets. Korea's equity market ranks among the top global exchanges by
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