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Raysut Cement Completes Acquisition Of LafargeHolcim Stake

Oman's cement manufacturer Raysut Cement Co. said it has closed the deal of acquiring 75 per cent of LafargeHolcim's cement terminal at Thilafushi Island in Maldives. A new joint venture - Raysut Maldives Cement Pvt. Ltd. - has been formed.

Raysut Cement noted that the new entity with State Trading Organization of Maldives owning 25 per cent has plans to expand the terminal's capacity, currently 75,000 tons per annum, by more than 100 percent in future to more than 200,000 tons per annum.

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