The new clinker production facility of the UAE Ras al-Khaimah cement manufacturer Union Cement is to raise the company’s annual clinker output to some 4.5Mt of clinker from the current 1.25Mt, it was reported on January 31, 2005. The new facility, to be built by a Chinese company, is estimated at UAD500m ($136.1m), and will have a daily capacity of some 10,000 tonnes. It is scheduled to start operations in August 2006.
The net profit of UAE Ras al-Khaimah cement manufacturer Union Cement surged 211.9 per cent year-on-year to UAD145.7m (US$39.7m) in 2004. The rise in earnings came on the back of a strong increase in revenue to UAD314.5m (US$85.6m) in 2004 from UAD195.2m (US$53.2m) in the previous year. Union Cement was established in 1972 by the governments of Ras al-Khaimah and Abu Dhabi. The company is traded on the Abu Dhabi Securities Market (ADSM).