Cement News tagged under: Middle East
Oman Investment Authority starts sale of Oman Cement Co to Huaxin14 March 2023, Published under Cement NewsThe Oman Investment Authority (OIA) has started the process for divesting its majority stake in Oman Cement Co. Ibrahim bin Said al Eisari, director general of private ownership at OIA, said: “This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to achieving economic diversification and transfer of modern technology to the targeted sectors.” OIA will sell its entire sha... |
Najran Cement subsidiary secures SAR85m loan14 March 2023, Published under Cement NewsNajran Cement ’s transportation subsidiary obtained a long-term Shariah-compliant credit facility, at a value of SAR85m (US$22.7m), from Al Rajhi Bank. In a statement to Tadawul, the cement producer said that the facility will be repaid within six years in semi-annual installments, with a one year-grace period The facility aims to finance the subsidiary’s expansion in its basic business, the company said, adding that there are no related parties involved in the transaction. |
CEMEX extends VeryNile plastic waste initiative01 March 2023, Published under Cement NewsThe CEMEX and VeryNile initiative have expanded the scope of the partnership to reach the CEMEX Egypt's hometown of Assiut. This comes after the success achieved by their partnership in cleaning the Nile River from plastic waste in Cairo and Giza governorates. The expansion process included contracting a group from the local fishing community from Assiut who collected four loaded trucks of plastic waste from the Nile during their first month. Following the waste hierarchy, CEMEX will us... |
Arabian Cement posts 12% rise in profits in 202228 February 2023, Published under Cement NewsSaudi-Arabia-based Arabian Cement has reported net profits after zakat and tax of SAR181m (US$48.3m) in 2022, representing a YoY increase of 12.1 per cent from SAR161.5m. The company saw a six per cent decline in revenues to SAR970.9m in 2022, up from SAR1.03bn in 2021. Earnings per share grew to SAR1.81 from SAR1.62 in 2021. |
Yamama Cement to exceed 30,000tpd clinker production27 February 2023, Published under Cement NewsSaudi Arabia-based Yamama Cement Company expects its clinker production to exceed 30,000tpd following the launch of commercial operations at its new factory and relocation of its seventh production line to the new facility, said the company's CEO Jehad bin Abdulaziz Al-Rasheed. The expected completion date for the relocation project is the second half of 2025, reports Zawya. The company has signed an agreement with China’s Sinoma Overseas Development Company to relocate and install th... |
Fives Pillard reduces CO2 emissions for Middle East cement plant24 February 2023, Published under Cement NewsFives Pillard has converted two existing hot gas generator burners operating with coal to natural gas. The modified burners existing can now add natural gas to the fuel mix while they can still operate with initial fuels they were designed for. Fives Pillard provided two 5MW Pillard HeatGen System™ burners fuelled by natural gas along with their accessories. The customer chose Fives Pillard, confident in its ability to design equipment that comply with safety and regulation requir... |
GCC cement: set for a revival?13 February 2023, Published under Cement NewsWith oil prices expected to remain elevated, GCC governments are easing their budgets and restarting construction projects. For cement producers this is good news and the sector prepares for its revival as demand for its products is forecast to show significant growth in the short- to medium term. By U Capital Research, Oman. After challenging times due to economic restrictions, caused by the COVID-19 pandemic and low oil prices, the GCC cement sector can now look forward to better... |
Going Green in Dubai06 February 2023, Published under Cement NewsGreen Cement Factory LLC (GCF), a subsidiary of Hong Kong-based Shun Shing Group, commenced commercial operations of its greenfield slag grinding plant in March 2021. The new 1Mta state-of-the-art facility is based in the Dubai Industrial City, UAE, and supplies the domestic construction sector with premium sustainable products. Green Cement Factory, Dubai Industrial City, UAE, is equipped with four 4000t drive-through silos to store and prepare the company’s product range for dis... |
RAK White Cement reports drop in profit06 February 2023, Published under Cement NewsRas Al Khaimah Co for White Cement and Construction Materials (RAK White Cement) posted net profits of AED21.08m (US$5.74m) in 2022, a 35.9 per cent decline from AED32.87m in 2021. Revenues of the UAE-based company increased by 3.3 per cent to AED247.66m in 2022 when compared with AED239.8m in the previous year. Earnings per share (EPS) fell from AED0.07 in 2021 to AED0.04 in 2022. |
Carbon Re and A³&Co join forces to decarbonise cement06 February 2023, Published under Cement NewsClimate technology company, Carbon Re is joining forces with A3& Co ® , a cement manufacturing consulting company, to accelerate the decarbonisation of the cement industry. The two companies have signed a strategic partnership agreement aimed to help cement manufacturers optimise production processes to reduce operational costs and carbon emissions to otherwise unachievable levels. Carbon Re claims that its Delta Zero industrial decarbonisation platform can cut fuel use by up to 1... |