Oman’s Raysut Cement to open $40m plant in Somaliland
Raysut Cement will build a $ 40 million facility in Somaliland with MSG Group.
A cement grinding unit will be installed in Bermera Somaliland. In a bourse missive undersigned by plant manager, Konstantinos Kouklidis, Raysut Cement said it would own 55% of the unit, which will have an annual capacity of 907,185 tonnes.
The remaining 45% will be held by MSG Group.May 2019 saw Raysut Cement close a $60m (OMR23m) deal to buy UAE-based Fujairah Cement Industries’ stake in Sohar Cement Co.
Through the acquisition, the Omani building materials company’s annual local production capacity will reach four million tonnes.
Source: Construction Week Online
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