Oman's Raysut Cement is considering the construction of an integrated cement plant in Georgia.
The company's board of directors has approved an initial study for the project, a facility with the annual capacity of 907,200 tonnes (t).
A decision on the project is expected by June 2018, with the investment expected to form part of Raysut Cement's five-year growth strategy.
The company expects to generate 18 million tonnes (20 million tons) of cement by 2022, chief executive officer, Joey Ghose, revealed.
Ghose said that discussions have commenced with possible partners for equity participation, as well as engineering, procurement, and construction (EPC) operations.
Raysut Cement, through its subsidiary, Pioneer Cement Industries Georgia, owns a mine in the country.
Located 60km from Georgian capital, Tbilisi, the mine contains more than 27.2 million tonnes (30 million tons) of limestone reserves, Raysut Cement revealed in a filing to the Muscat bourse.