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Raysut buys stake in Omani cement maker

Oman's largest cement producer by market value Raysut Cement has acquired a 50% stake in Oman Portuguese Cement Products Co (OPCP) to expand into new areas of the cement businesses, Reuters has reported. The OR1.92m ($4.99m) deal includes over 40% in OPCP owned by Oman Investment Corp and 10% of Silva Corp's 60% holding, Raysut's CEO Mohammed Ahmed Al Dheeb said. "With this company, we will look at expanding into other businesses related to the cement industry. We will look to expand our product range and reach the end customer," he said.