Saudi Dana Holding to invest US$395m in cement firm

Saudi Dana Holding to invest US$395m in cement firm
Published: 28 August 2008

Saudi privatley-owned Dana Holding will invest SAR1.48bn (US$395m) to establish a cement company in Al-Baha, southwestern Saudi Arabia, Al-Watan daily reported on August 27, 2008.
 
The company will be called Dana Al-Baha Cement and will have a daily capacity of 10,000t of cement, said Houssein bin Duajjam, managing director of Dana Holding.
 
Dana Holding has recently signed memorandums of understanding with nine unnamed companies from Germany, the UK, China, South Korea, Lebanon and Saudi Arabia for carrying out geological surveys and studies and providing consultance to Dana Al-Baha Cement.