Jordan Cement Factories first-half loss

Jordan Cement Factories first-half loss
Published: 26 July 2011

Jordan Cement Factories, the kingdom’s largest cement company, majority-owned by Lafarge made a first-half loss of MOD2.7m (US$3.8m) on greater competition, Al Rai said.

The factory made
MOD8.9m in profit during the same period of 2010, the newspaper said, citing an unidentified official. The losses are due to an increase in supply in the Jordanian market after the opening in March of a fourth cement factory, a decline in demand and increasing costs, Al Rai said.

Production capacity of the country’s cement facilities is estimated at 10Mta, while annual needs stand at about 3.5Mt, it said.