Pionier Cement uit de VAE betrokken bij ontwikkeling Greenfield Cement Project van 200 miljoen dollar in Georgië
DUBAI, Verenigde Arabische Emiraten & TBILISI, Georgië & MUSCAT, Oman-(BUSINESS WIRE)- Pionier Cement Industries (“Pionier Cement”) uit de VAE, onderdeel van de Omaanse Raysut Cement Company SAOG (RCC), is bezig met de oprichting van een geïntegreerde cementfabriek met een capaciteit van 1,2 miljoen ton per jaar in Georgië, Oost-Europa.
Pionier Cement is eigenaar van een concessie aan de kalksteenmijnen in Georgië die de belangrijkste grondstoffen voor dit project zullen leveren. Georgia biedt Pioneer Cement de mogelijkheid om vanuit het Midden-Oosten te diversifiëren naar een markt met een grote infrastructuurgroei en een tekort aan klinker en hoogwaardig cement, zei het bedrijf in een verklaring.
Pioneer Cement of UAE to Develop US$200 Million Greenfield Cement Project in Georgia
DUBAI, United Arab Emirates & TBILISI, Georgia & MUSCAT, Oman–(BUSINESS WIRE)– The UAE based Pioneer Cement Industries (“Pioneer Cement”), part of Oman based Raysut Cement Company SAOG (RCC) is in the process of setting up a 1.2 m tonnes per annum capacity integrated cement plant in Georgia, Eastern Europe.
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Mr. Joey Ghose, RCC Group CEO (Photo : AETOSWire)
Pioneer Cement owns concession to limestone mines in Georgia that will provide the key raw materials to this project. Georgia provides Pioneer Cement an opportunity to diversify from the Middle East into a market with large infrastructure growth and shortage of clinker and high-quality cement, the company said in a statement.
The plant will be located near Tbilisi, adjacent to the limestone mines. The debt and equity arrangements for the project are currently being finalized and the construction work in the project is slated to commence from Q4 2019.
The value of the project is estimated at $200 million.
“We have embarked on an aggressive and ambitious expansion strategy in the region with specific focus on Africa and neighboring regional countries, and in this context setting up Pioneer Cement Georgia is a significant geographical diversification,” said RCC Group CEO Mr. Joey Ghose.
Speaking about the project, B.S. Rajan General Manager Pioneer Cement said, “The Georgia expansion is a major milestone for Pioneer and its parent company Raysut, as it opens up a diverse market for us in terms of growth potential as well as new challenges. We are confident that this move will further strengthen and complement our aggressive expansion strategy in regional and global markets and grow into a development partner in economies across a wide geographical footprint.”
The Georgia expansion of Raysut comes close on the heels of the company’s announcement of signing a land lease agreement and Port of Terminal services agreement with Port of Duqm Company SAOC for building a new grinding unit in Oman at an investment of US$30 million. The Duqm plant is being set up as part of the company’s aggressive expansion strategy in the local and regional markets.
This year Raysut also joined hands with MSG Group in East Africa to set up a US$40 million cement grinding unit in Berbera, Somaliland as well as acquired Sohar Cement Factory LLC at a value of US$60 million.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20191017005812/en/
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