(MENAFN- Muscat Daily) Raysut Cement Co on Sunday signed a joint venture agreement with Barwaaquo Cement Co to build a terminal at Berbera port in Somaliland for packaging and distribution of cement.
Eng Salim bin Alawi bin Mohammed Baabood group chief executive officer of Raysut Cement signed the agreement with Ismail Saeed Hussain chairman of Barwaaquo Cement Raysut Cement said in a filing with MSM on Sunday.
'Pursuant to this agreement a terminal shall be constructed for the packaging and distribution of bagged and bulk cement using the latest technology at Berbera port with a storage capacity of 12000 tonnes' Baabood said.
The total investment cost of the project is about US$7.5mn he added.
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