Subsidiaries, Joint Ventures & Partnerships

Raysut Maldives Cement Pvt Ltd

Established: 1993

With the rapid development of tourism in the country, the Government of Maldives embarked on the development of harbors, airports, housing and other infrastructure. The tourism industry continued to grow with local and foreign investment and large projects began to get off the ground. All these projects escalated the price of cement in the Maldives and led to the partnership between STO and Marine Cement Limited (a Swiss-based cement company owned by Lafarge of France and Blue Circle of United Kingdom) to form Maldives Island Marine Cement pvt ltd. The company was renamed Lafarge Maldives Cement pvt ltd in 2011, and with the 2020 acquisition of all foreign-held shares of the company by Raysut Cement Company of Oman, it became Raysut Maldives Cement pvt ltd.


The company's silo terminal located in the booming industrial island of Thilafushi just 6km away from Malé City has the ability to unload cement from oceangoing bulk cement tankers from its dedicated mooring site. The fully enclosed unloading operation through two floating pipelines into three silos takes place in all weather conditions at an average rate of 220 mt/hr. The terminal has a total storage capacity of 5400mt in its three silos leading to a single in-line packing machine with a packing capacity of 30-50 mt/hr. An enclosed belt conveyor system conveys cement bags to a barge loading platform where local barges and dhonis of various configurations can be loaded for transporting cement throughout the country.


The plant is also capable of lading to lorries for inland transport of cement in bags and jumbo bags. The terminal infrastructure includes cranes, independent power supply, fuel and water storage, work and repair facilities, empty bag and spare parts stores, office and staff accommodation.


Distribution to 5 outlaying atolls is carried out by STO, the company’s local partner and main sales agent. With the intention of providing cement to the remaining atolls with similar convenience and affordability, the company started appointing atoll distributors in 2002.


Over time, the company has introduced new products to the Maldivian cement market, first of which being the 1000kg jumbo bag. It is widely adopted by contractors of large projects. A smaller 25kg bag was launched in 2002 targeted to customers acquiring cement for transportation to distant islands where a lot of handling is required.


The wide acceptance and successful integration of the brand in the construction industry of Maldives has netted significant market share. The company was among the first to be certified for ISO 9001:2000 in the country.

Board of Directors

Mohamed Nizam


Mohamed Hassaan Naseem