@conradprabhu - The board of directors of Raysut Cement Company SAOG, the largest cement manufacturer in the Sultanate of Oman, has approved the issuance of a secured rated.
Raysut Duqm Cement Factory financing announced 21 December 2020
To support initiatives to scale up the industrial sector in Oman, ahlibank has announced the financing of OMR8.1m (US$21.1m) for Duqm Cement Factory s new cement grinding plant in Duqm Industrial Estate.
A signing ceremony with Duqm Cement Factory, a wholly-owned subsidiary of Raysut Cement, took place on 10 December, the Times of Oman reported.
Signing the agreement on behalf of ahlibank was Hanaa Al Kharusi, General Manager – Corporate Banking while Raysut Cement Company was represented by its Group CEO Joey Ghose. Raysut Cement Company Chairman Ahmed bin Yousuf Al Ibrahim and Acting Deputy Group CEO Salim bin Ahmed Al-Ibrahim were also present.
Duqm Cement Factory secures funding for Duqm grinding plant Written by Global Cement staff
16 December 2020
Oman: Raysut Cement subsidiary Duqm Cement Factory has signed a deal with Ahlibank for a US$21m loan for the construction of its Duqm grinding plant in Al Wusta Governotate. The grinding plant will produce ordinary Portland cement (OPC), Portland limestone cement (PLC) and ground granulated blast furnace slag (GGBFS), according to the Times of Oman newspaper. Construction of the plant started in November 2020.
Raysut Cement chief executive officer (CEO) Joey Ghose said, “We would like to extend our sincere gratitude and appreciation to Ahlibank for financing the Construction of Duqm Cement Factory’s new grinding plant in Duqm Industrial Estate. Through strategic partnerships with the public and private sectors, the bank has ensured the all-round development of Oman’s diverse sectors. The new cement plant will spur
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