One of Oman?s largest cement producers Raysut Cement Company has announced to approve an initial study to consider building a one metric tonne per year cement plant in Georgia
In a statement to the press, Joey Ghose, CEO of Raysut Cement Company SAOG, said that the board of directors have approved the initial research for the construction of the cement plant in Georgia.
He further added that this new investment is in line with Raysut Cement?s five-year strategy to emerge as a 20mn tonne cement company by 2022. He hopes that a final decision will be taken by June 2018 for the construction of the cement factory.
?Discussions have also commenced with possible partners for both equity participation and EPC contracting,? he said.
In the Eurasian country, Raysut Cement owns a mine with more than 30mn tonnes of Limestone reserves in about 60km away from Tiblisi, the capital of Georgia. Raysut owns this mine with its 2nd tier subsidiary Pioneer Cement Industries Georgia Limited.
Located in Salalah, Oman, Raysut has a customer base across Oman, Yemen, Somalia, Mauritius, Qatar, Iraq, Tanzania, Sudan and beyond. The company?s network includes five storage and packing terminals. In 2011, Raysut Cement Company expanded its production bases to Ras Al Khaimah in the UAE through 100 per cent acquisition of Pioneer Cement Industries LLC.
