China’s Sinoma suspends Union contract

China’s Sinoma suspends Union contract
Published: 03 July 2008

Sinoma International Engineering Co Ltd said it has suspended a cement production line construction contract with Union Cement Company (UCC), a Saudi Arabia cement manufacturer, due to a failure to obtain regulatory approval.

In a statement filed with Shanghai Stock Exchange, the company said it signed the US$230m contract with UCC in September 2006.

Sinoma said that the two companies will re-evaluate the contract price if the project resumes.