Raysut Cements' (Raysut) board of directors has approved an initial study to assess the possibility of building a cement plant in Georgia - according to a report by Times of Oman. The planned investment, according to Raysut's chief executive officer, Joey Ghose, ties into a five-year strategy to grow the business into a 20-million tonne cement company by 2022.
In Georgia, Raysut owns a mine with more than 30 million tonnes of limestone reserves. The site is owned by second-tier subsidiary Power Cement Industries Georgia, located 60 km from Tbilisi.
Discussions are also being held for equity participation, and engineering, procurement and construction contracting.
The final decision is expected to be made in June at the latest.
