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MUSCAT, OMAN & MALE, MALDIVES--( / ) October 19, 2020 -- Oman’s largest cement manufacturer, Raysut Cement Company (RCC), said it has closed the deal of acquiring 75 per cent of LafargeHolcim’s cement terminal at Thilafushi Island in Maldives, and a new joint venture - Raysut Maldives Cement Pvt. Ltd. - has been formed.

The new entity with State Trading Organization (STO) of Maldives owning 25 per cent has plans to expand the terminal’s capacity, currently 75,000 tons per annum, by more than 100 per cent in future to over 200,000 tons per annum.

This acquisition opens a corridor of trade between Oman and Maldives not only in the cement industry with Raysut Cement but also in other areas which will benefit both economies. Raysut cement are proud to have opened this new economic relationship.

“The Maldives acquisition will boost Raysut’s profitability and production to full capacity, particularly of its plant in State of Salalah in Sultanate of Oman. Raysut Cement Company this year faced economic conditions, including the economic conditions that resulted from the global spread of Covid-19,” said Sheikh Ahmed Yousef Alawi Al Ibrahim, Chairman of RCC Group.

The terminal will be owned and operated by the RCC-STO joint venture.

The takeover of the terminal in the Indian Ocean country marks a new phase for the Muscat Stock Market listed Raysut since it will be adding a new geography to its strategic global investment plan.

“Our foray into Maldives will help drive self-sufficiency of cement in Maldives, which currently is predominantly an import market. Raysut is looking at adding local value in Maldives by installing production facilities to ensure there is at least 40% local content. This will also make the market more competitive from a price point which will have its positive impact on infrastructure development in the island nation,” said RCC GCEO, Mr. Joey Ghose.

“This is a milestone investment for Raysut since the cement major will be pitching into a market supplied currently by other players from South Asia. It is also a significant move reinforcing its strategy to diversify from only being a South Oman based player to grow into a global player in the cement industry. RCC in Maldives will be competing with cement players from India, Indonesia and Malaysia,” said Acting Deputy Group CEO, Mr. Salim Ahmed Alawi Al Ibrahim.

“The acquisition followed by the formation of the new JV will cement Raysut’s position further as an emerging global cement player with significant overseas presence in markets of Middle East and East Africa,” said RCC GCEO, Mr. Joey Ghose.

He said Maldives investment is in line with the corporate strategy of Raysut to expand its footprint globally and be a partner in developing countries where it will invest with established local partners.

*Source: AETOSWire

View source version on businesswire.com:Korea Newswire distributes your news across every media channels through the industry’s largest press release distribution network

SAN JOSE, CALIF.--( / ) August 05, 2020 -- Velodyne Lidar, Inc. 링크티비TV 맥스맨 상평동풀팟홀덤 SANannounced two new generation YellowScan 일본파칭코 야부리야사 mobile mapping systems use Velodyne’s lidar sensors to help achieve the high precision and accuracy needed in aerial 3D mapping. Velodyne’s powerful lidar sensors generate real-time georeferenced point cloud data that allows YellowScan systems 일본파칭코 마그밀 to accurately 일본파칭코 베타딘 measure and analyze an area so customers can avoid 사당1동홀덤대회 SANcostly manual surveys.



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