China’s Sinoma inks US$147m Saudi initial deal

China’s Sinoma inks US$147m Saudi initial deal
Published: 04 November 2009

Saudi-based Southern Province Cement Co said on Tuesday it has signed a preliminary agreement to award China’s Sinoma a US$147m contract to expand its production capacity.

A final contract for the turnkey expansion will be signed before the end of 2009, said Southern Cement, the kingdom’s biggest cement firm by market value.

The contract covers adding a production line with a daily 5,000t capacity to one of Southern Province’s plants, it added in a statement on the bourse website.