Raysut Cement
An Omani cement manufacturer headquartered in Salalah and described as the largest cement producer in Oman.
Last updated August 31, 2026
AI crawler reads
2requests
1companies- Anthropic2
- Profile
- 2
- Controversies
- 0
- JSON · MD
- 0
- First read
- Nov 4, 2026
- Latest read
- Nov 4, 2026
From this site's server log
Overview
Raysut Cement is an Omani cement manufacturer headquartered in Salalah. The company produces cement for construction markets in Oman and serves regional customers through exports, with Yemen and other Middle Eastern markets identified as part of its operating footprint. Its principal product scope includes ordinary Portland cement and sulfate-resistant cement, although the available reference material does not provide a complete current product catalogue. The company is positioned as a large domestic cement supplier supporting infrastructure, commercial construction, housing, industrial development, and related building activity. Wikipedia describes Raysut Cement as the largest cement producer in the Sultanate of Oman. The Global Cement Directory 2018 ranked it 92nd globally by integrated production capacity, placing the company among the more substantial cement producers internationally even though its principal identity remains regional. Raysut Cement experienced financial pressure in 2018. Reported profit fell sharply during that year, declining by 94% to approximately $883,000, equivalent to OMR340,000 according to the cited reference material. The company nevertheless pursued an ambitious expansion strategy under chief executive Joey Ghose. The strategy relied substantially on bank borrowing and contemplated international acquisitions, including proposed investments in India. In December 2018, Ghose discussed a plan to allocate $200 million to two Indian acquisitions and a further $400–500 million over four years to expand those businesses. The proposed acquisitions had not been announced by May 2019, and the broader expansion program subsequently appeared to lose momentum. Raysut Cement also pursued domestic industry expansion through Al Wusta Cement, a joint-venture cement plant project with Oman Cement Company. Reports in early 2019 characterized implementation of the project as slow, indicating that the initiative had encountered delays. These developments illustrate the tension between the company's stated ambition to expand production and markets and the financial, execution, and financing challenges facing the business. The company has also been associated with a maritime accident involving the cement carrier MV Raysut II. In May 2018, the vessel grounded at Fazayah Beach while carrying approximately 6,750 tonnes of cement. It could not be refloated and was declared a constructive total loss. The incident raised environmental concerns because the grounding occurred at a beach where endangered sea turtles nested. The available sources do not establish the final legal or regulatory outcome of the incident. Raysut Cement's brand proposition is therefore centered on industrial-scale cement production, dependable supply, and regional market reach. Its public profile combines a leading position in Oman with efforts to build a wider international platform, while its documented financial performance, delayed projects, and operational incident show the risks associated with that expansion. Current ownership, present executive leadership, exact production capacity, and the company's latest operating status are not established by the supplied reference material.
History
Raysut Cement is an Omani cement manufacturer based in Salalah. The company serves the construction sector in Oman and participates in regional trade, with the supplied material identifying Yemen and the wider Middle East among its markets. Its core business is the manufacture and distribution of cement, including ordinary Portland cement and sulfate-resistant cement. The company occupies a prominent position in Oman's cement industry. Wikipedia identifies it as the largest cement producer in the Sultanate. The Global Cement Directory 2018 placed Raysut Cement 92nd in the world by integrated production capacity. This ranking provides context for the company's scale: it is not merely a small domestic supplier, but a significant regional producer whose principal commercial base remains Oman. A major documented turning point came in 2018, when the company experienced a severe deterioration in reported profitability. Profit declined by 94% to approximately $883,000, or OMR340,000. Despite this pressure, management promoted an expansion strategy intended to move beyond the company's established regional base. Chief executive Joey Ghose described a debt-supported approach involving bank loans and international acquisitions. In a December 2018 interview, he said that $200 million had been earmarked for two acquisitions in India and that an additional $400–500 million would be invested over the following four years to expand the acquired companies. The proposed Indian expansion did not develop as announced in the available record. By May 2019, the acquisitions had not been publicly announced. The plans were consequently described as having faltered, illustrating the execution and financing risks associated with a large acquisition program relative to the company's existing scale and financial performance. Raysut Cement also pursued capacity development at home through Al Wusta Cement, a proposed joint venture with Oman Cement Company. The project was intended to add cement-production capability, but a January 2019 report described implementation as slow. The delay became another indication that the company's expansion agenda faced practical obstacles, alongside the uncompleted Indian acquisition plans. Operational and environmental concerns arose in May 2018 when MV Raysut II, a cement carrier associated with the company, grounded at Fazayah Beach. The vessel was carrying approximately 6,750 tonnes of cement and could not be refloated, leading to its declaration as a constructive total loss. The location was also used by endangered sea turtles for nesting, and the incident exposed those species to potential harm. The supplied sources do not provide a definitive account of subsequent cleanup, liability, regulatory enforcement, or litigation. The available material does not establish Raysut Cement's founder, founding year, current owner, parent company, present chief executive, latest capacity, or current financial results. On the documented record, its historical profile is that of a leading Omani cement producer that attempted to broaden its international footprint while dealing with profitability pressure, delayed capacity expansion, and a significant maritime accident.
- 2019
Indian acquisitions remain unannounced
[1]The acquisitions described by management had not been announced by May 2019.
- 2019
Al Wusta Cement project reported as delayed
[1]The proposed joint-venture plant with Oman Cement Company was reported to be slow to implement.
- 2018
Profit decline reported
[1]Reported profit fell by 94% to approximately $883,000, or OMR340,000.
- 2018
International expansion strategy announced
[1]CEO Joey Ghose outlined debt-supported plans for Indian acquisitions and further investment in the acquired businesses.
- 2018
MV Raysut II grounds at Fazayah Beach
[1]The cement carrier grounded while carrying approximately 6,750 tonnes of cement and was later declared a constructive total loss.
Products and positioning
A large Omani cement producer focused on reliable supply for domestic construction and regional export markets.
General-purpose cement
Ordinary Portland cement
A general-purpose cement type used in common construction applications. The supplied reference material identifies ordinary Portland cement as one of Raysut Cement's principal product categories, but does not provide a detailed specification, brand architecture, packaging range, or current product catalogue.
Specialized cement
Sulfate-resistant cement
A cement type intended for construction environments where resistance to sulfate-related deterioration is important. It is identified in the reference material as part of Raysut Cement's product offering, although detailed technical grades and present availability are not specified.
Brand decisions
2019
Proposed Indian acquisitionsM&ABackground
Raysut Cement sought international growth through the possible acquisition of two Indian companies.
Action taken
Management earmarked funds for the proposed transactions, but no completed acquisitions were identified in the supplied material.
Aftermath
The transactions had not been announced by May 2019, and the planned expansion was described as stalled.
2019
Al Wusta Cement joint-venture projectStrategyBackground
Raysut Cement pursued additional domestic production capacity with competitor Oman Cement Company.
Action taken
The companies worked on a proposed joint-venture cement plant under the Al Wusta Cement name.
Aftermath
A January 2019 report characterized the project as slow to implement, indicating delays.
2018
Pursuit of debt-funded international expansionStrategyBackground
Management sought to expand Raysut Cement beyond its established markets while the company was experiencing a substantial decline in reported profit.
Action taken
CEO Joey Ghose described plans to use bank financing, allocate $200 million to two proposed Indian acquisitions, and invest a further $400–500 million in those businesses over four years.
Aftermath
The proposed Indian acquisitions had not been announced by May 2019, and the expansion program was reported to have faltered.
Planned investment. $200 million for two proposed acquisitions, plus $400–500 million for subsequent expansion (Announced in December 2018; proposed four-year follow-on investment)
Recent events
- Unconfirmed
Duqm Cement Factory secures plant funding[3]
Raysut Cement subsidiary Duqm Cement Factory signed a US$21 million loan deal with Ahlibank to fund construction of its Duqm grinding plant in Oman.
Reported
Raysut Cement completes acquisition of LafargeHolcim stake in Maldives terminal[4]
Raysut Cement said it completed the acquisition of a 75% stake in LafargeHolcim's cement terminal at Thilafushi Island in Maldives.
Sources4 sources
Cite this profile: Cite the canonical profile. /brand-wiki/raysut-cement · Editorial policy · How profiles are compiled