Economy

Raysut Cement considers foraying into Georgia

Raysut Cement Company, the largest producer of cement in Oman, is considering building a cement plant in Georgia with an annual capacity of one million tonnes.

Company CEO Joey Ghose announced that the Board of Directors had approved an initial study for the purpose in Georgia, where Raysut Cement owns a mine with more than 30 million tonnes of limestone reserves. The mine, owned by its second-tier subsidiary Pioneer Cement Industries Georgia Limited, is some 60 kilometres from Georgia’s capital Tbilisi.

Ghose said the planned investment fit well into Raysut Cement’s five-year strategy of growing into a 20-million tonne cement company by 2022 and he expected a final decision latest by June.

Discussions have also commenced for both equity participation, and engineering, procurement and construction contracting.

Raysut Cement 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, an integrated cement and clinker grinding plant, in 2011.