Raysut Cement Company said it has closed the deal of acquiring 75% of LafargeHolcim’s cement terminal at Thilafushi Island in Maldives, and a new joint venture - Raysut Maldives Cement Pvt. Ltd. – has been formed. The new entity with State Trading Organization (STO) of Maldives owning 25% has plans to expand the terminal’s capacity, currently 75,000 tons per annum, by more than 100% in future to over 200,000 tons per annum. This acquisition opens a corridor of trade between Oman and Maldives not only in the cement industry with Raysut Cement but also in other areas which will benefit both economies. Raysut cement are proud to have opened this new economic relationship. The terminal will be owned and operated by the RCC-STO joint venture. The takeover of the terminal in the Indian Ocean country marks a new phase for the Muscat Stock Market listed Raysut since it will be adding a new geography to its strategic global investment plan.