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UAE’s Pioneer Cement signs 10-year for development of limestone mine near Tbilisi, Georgia

Raysut Cement Company, the Omani group, has announced that its wholly owned subsidiary, Pioneer Cement Industries, based in the UAE, has signed a deal for the development of a limestone mine near Tbilisi in the Eastern European nation of Georgia. In a filing to the Muscat Securities Market, the company said that the 10-year deal will see SFL International pay a royalty to Pioneer Cement for the mining of the limestone. It will have a production capacity of 1.2 million tonnes per annum. The investment into Georgia provides Pioneer Cement with an opportunity to diversify from the Middle East, into a market with large infrastructure growth and high-quality cement.