Oman: Raysut Cement Company (RCC), Oman’s largest cement manufacturers, have expanded their global footprint by expanding into the Eastern – African Markets and in the Maldives.
RCC DMCC added to its East – African markets served list by expanding into Comoros, Madagascar and Zanzibar while, RCC Maldives Pvt. Ltd. has added the Maldives to the list of geographical locations, serviced by Rayasut.
The group reported a Y – o – Y growth of 1.45% in cement sales for Q1 of 2021, while all additional products also witnessed an increase in Y – o – Y sales leading to a much more positive Q1 for the cement manufacturing giant.
Compared to last year, the firm has witnessed a growth in revenue as well as – from RO 25.612 Million to 26. 896 Million, EBITDA growth amounting to RO 0.106 Million was achieved compared to an overall loss of RO 4.009 Million last year.
This positive outlook has led to plans for a new cement grinding unit, with a capacity of 750,000 tonnes of cement per annum, in Duqm. The estimated cost of the project for the company will be around RO 30 Million.
