Raysut Cement Company (RCC), Oman’s largest cement manufacturer, today (November 10) broke ground on its new $30 million grinding unit at Duqm region of the sultanate.
The development of Duqm plant, a strategic expansion for Muscat Stock Market (MSM)-listed RCC, will complement the company’s leadership in cement manufacturing adding another 1 million tonnes to the overall group output, taking the total to 7.4 million tonnes per annum.
Group CEO Joey Ghose said: "Today’s 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 which is 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," he stated.
In September last year, RCC had signed a land lease and Port of Terminal services agreement with Port of Duqm Company as part of the development of the new grinding unit.
Salim bin Ahmed bin Alawi Al Ibrahim, Acting Deputy Group CEO, said the new grinding unit will add more muscle to Raysut's capability to cater to the regional and global markets, which continues to expand with new investments and acquisitions in Oman, Asia and East Africa.
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.-TradeArabia News Service