Oman- Raysut Cement mulls cement plant in Georgia| MENAFN.COM

Thursday, 07 July 2022 07:15 GMT

Oman- Raysut Cement mulls cement plant in Georgia


(MENAFN- Muscat Daily) Muscat- Raysut Cement Company, Oman's largest cement producer, is planning to carry out a study to explore the establishment of a 1mn tons per annum cement plant in Georgia.

'This is to inform that the board of directors has approved the initial study to be carried out to explore the establishment of a 1mn tons per annum integrated cement plant in Georgia', Raysut Cement said in a disclosure filed to the Muscat Securities Market.

Raysut Cement through its second tier subsidiary Pioneer Cement Industries Georgia Limited, owns a mine with over 30mn tons of limestone reserves some 60km from Georgia's capital city Tiblisi, the company said.

Raysut Cement expects a final decision for the project to be taken by June this year. The company said the discussions have also commenced with possible partners for both equity participation and engineering, procurement and construction (EPC) contracting. 'This new investment fits well into Raysut Cement's five-year strategy of growing into a 20mn ton cement company by 2022', Raysut Cement said.

Raysut Cement on Tuesday inaugurated its new state-of-the-art and fully automatic packing plant. The new plant will double the packing and dispatch capacity, which will reinforce the company's presence in both domestically and in export markets.

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