Update1- Raysut Cement acquires Sohar Cement’s shares for $60mn

0
141
20 May 2019

Muscat (WAF): Raysut Cement Company SAOG (RCC) has acquired Sohar Cement Factory LLC for 60 million USD, RCC disclosed to Muscat Securities Market today.

In today’s disclosure, RCC stated that “the production capacity of Sohar Cement Factory LLC is over 1.7 million tons of cement per annum”. The added capacity brings RCC’s production to 4.7 million tons per annum.

Last week RCC expressed its reservation to news published by WAF regarding the signing of the agreement.