Rights offer expected next month


By A E James


MUSCAT - Raysut Cement Company (RCC), one of the leading cement producers in the Sultanate, is planning to acquire special cargo ships in an apparent move to reduce freight cost. The company is looking at different options like floating its own subsidiary firm or forming a joint venture with an established shipping line, said Mohammed Ahmed al Dheeb, General Manager of the company.

RCC has chartered three vessels for exporting cement with a total cost of $7 million per annum, added Al Dheeb, while addressing a meeting of analysts and reporters yesterday. "We have been spending $560,000 a day for chartering a vessel as there is a huge demand for special vessels that carry cement. By acquiring cargo vessels, we will be able to bring down freight cost", he noted ......
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