Thilafushi

Raysut Maldives Cement JV Formed; Acquisition of LafargeHolcim Stake Completed

Retrieved on: 
Sunday, October 18, 2020
Engineering, Logistics, Supply chain management, Residential Building & Real Estate, Manufacturing, Commercial Building & Real Estate, Construction & Property, Countries, Geography of Asia, Asia, Raysut Cement, LafargeHolcim, Maldives, Thilafushi, Cement, Lafarge, Raysut

Omans largest cement manufacturer, Raysut Cement Company (RCC), said it has closed the deal of acquiring 75 per cent of LafargeHolcims cement terminal at Thilafushi Island in Maldives, and a new joint venture - Raysut Maldives Cement Pvt.

Key Points: 
  • Omans largest cement manufacturer, Raysut Cement Company (RCC), said it has closed the deal of acquiring 75 per cent of LafargeHolcims cement terminal at Thilafushi Island in Maldives, and a new joint venture - Raysut Maldives Cement Pvt.
  • 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.
  • 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.