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Raysut Cement announces acquisition of Sohar Cement at $60 million

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Oman’s largest cement manufacturer and one of the Gulf’s largest, Raysut Cement Company announced complete acquisition of Sohar Cement Factory LLC at a value of $60 million, following a letter of intent it signed early this year with Sohar Cement shareholders.

In a statement, Muscat Securities Market-listed Raysut said that it has purchased all of Sohar Cement’s shares effective May 19, 2019 and will immediately begin integration of the company located at the Sohar Industrial Estate in Oman.

"The acquisition of Sohar Cement forms part of Raysut’s ambitious plan to expand its capacity in 2019 to not only supply to its domestic higher demand Northern markets but also to service the rapidly growing markets, particularly in Africa and to focus on diversification and grow outside the Gulf region," said Raysut Cement chief executive Joey Ghose.

"We are looking at an aggressive expansion strategy from 2019 with a view to eventually expand our production to 20 million tonnes per annum," Ghose said.

He said the Sohar acquisition also includes taking over the 20% stake of Fujairah Cement in the company. This acquisition brings up Raysut Cements cement capacity to 6.4 million tons per annum.

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Concrete

thyssenkrupp Polysius, SaltX partner for electrified production

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thyssenkrupp Polysius and Swedish startup SaltX have signed a Letter of Intent (LOI) to co-develop the next generation of electrified production facilities, advancing industrial decarbonisation. Their collaboration will integrate SaltX’s patented Electric Arc Calciner (EAC) technology into thyssenkrupp Polysius’ green system solutions, enabling electric calcination, replacing fossil fuels with renewable energy, and capturing CO2 for emission-free production. Dr Luc Rudowski, Head of Innovation, thyssenkrupp Polysius, emphasised that this partnership expands their portfolio of sustainable solutions, particularly in cement, lime, and Direct-Air-Capture (DAC). Lina Jorheden, CEO, SaltX, highlighted the significant CO2 reduction potential, reinforcing their commitment to sustainable industrial processes.

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Concrete

Terra CO2 secures $82m to scale low-carbon cement technology

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Terra CO2, a US-based sustainable building materials company, has raised $82 million in Series B funding, co-led by Just Climate, Eagle Materials and GenZero, with continued support from Breakthrough Energy Ventures. The investment will accelerate the commercial deployment of Terra’s OPUS technology, enabling the construction of multiple production facilities across North America and Europe. With the cement industry responsible for 8 per cent of global CO2 emissions, Terra’s solution provides an immediate, scalable alternative using abundant raw materials that integrate seamlessly with existing infrastructure. The company has secured key partnerships, including a deal with Eagle Materials for multiple 240,000-tonne plants.

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Concrete

Titan Cement Group enters South Asia

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Titan Cement Group has expanded into the South Asian market through a joint venture with JAYCEE, an India-based producer of supplementary cementitious materials. Titan will hold a majority stake in the newly formed company, Atlas EcoSolutions, which will focus on sourcing, processing, marketing, and distributing SCMs globally. This initiative aims to support sustainable construction by promoting alternatives to clinker-based cement. Jean-Philippe Benard, Head of Supply Chain and Energy Development, emphasised that the venture aligns with Titan’s strategy to lead in low-carbon building materials while reinforcing its commitment to sustainability and innovation. The move strengthens Titan’s position in a high-growth market while ensuring long-term access to SCMs.

 

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