Cement News tagged under: Middle East
Iran sees 4% increase in cement exports08 December 2022, Published under Cement NewsIran exported 7.6Mt of cement in the first seven months of the current Iranian calendar year (March 2021-October 2022), according to data from the Iranian Industry, Mining and Trade Ministry. This marks a four per cent increase on the same period a year earlier. In total last year, Iran exported 14.4Mt of cement, putting it in fourth place among the world’s leading cement exporters. Meanwhile, 2021 saw Iran produce 63Mt of cement, making it the seventh biggest cement producer in the world... |
CMA suspends trading of shares in Raysut Cement28 November 2022, Published under Cement NewsThe Capital Market Authority (CMA) has suspended the trading of shares in Oman-based Raysut Cement SAOG after material misrepresentations were spotted in the company’s unaudited financial reports for the second quarter of 2022, published on 10 November 2022. According to the Oman Daily Observer, the misrepresentations were picked up during an audit of the results as they were inconsistent with international accounting standards and therefore the results do not reflect the real financial... |
IFC loan proposed for new Al Douh Cement production line16 November 2022, Published under Cement NewsIFC is proposing a corporate loan of up to US$65m to Al Douh Cement Co , one of the leading producers of cement in Iraq, to finance the company’s planned expansion of its production capacity. The project envisages the construction of a new production line of sulphates-resistant cement within the same site, with a capacity of 2Mta. The new line will be equipped with a kiln fuelled by natural gas and powered by a 50MW captive gas fired power plant, which will be built as part of the pro... |
Iran’s cement demand stable in October15 November 2022, Published under Cement NewsThe Iranian cement market expanded 0.3 per cent to 5.22Mt in October 2022 from 5.05Mt in October 2021, according to the Iranian cement association. Domestic cement production in October 2022 reached 5.66Mt, up 3.6 per cent from 5.46Mt in October 2021. Clinker production edged up from 7.02Mt in October 2021 to 7.09Mt on year later. The output figures include 0.79Mt of clinker exports and 0.39Mt of cement exports. In terms of clinker exports, this represents a 21.5 per cent advance YoY fro... |
Kuwait Portland Cement 3Q profit stable15 November 2022, Published under Cement NewsKuwait Portland Cement posted a 3Q total operating revenue of KWD32.7m (US$106.2m) in 3Q22, up from KWD27.6m in the equivalent period of 2021. The company’s net profit attributable to shareholders remained stable at KWD1.3m in the 3Q22. |
Umm Al Qura Cement sees net profit slide 54% YoY in 9M2208 November 2022, Published under Cement NewsSaudi Arabia’s Umm Al Qura Cement Company has reported a 15.13 per cent drop in revenue to SAR179.29m (US$47.8m) in the first nine months of 2022. This compares to SAR211.25m in the same period a year earlier, according to Zawya. Net profit after Zakat and tax over the same period fell from SAR61.92m to SAR28.44m marking a contraction of 54.06 per cent. In the third quarter of 2022, revenues fell 4.81 per cent YoY from SAR56.95m to SAR54.21m, while net profit after Zakat and tax plunged ... |
Suez Cement orders 45GWh solar power project04 November 2022, Published under Cement NewsSuez Cement Group ( Heidelberg Materials ) signed an electricity generation agreement with Intro Power and Utilities with the aim of constructing a solar power plant at the Suez Cement Factory with investments estimated at EGP350m (US$14.4m). The project will provide a production capacity of 45GWh of clean electricity, which eliminates approximately 22,000t of CO 2 emissions annually or 440,000t over 20 years. The project is scheduled to install solar energy systems with a total capa... |
Pakistan cement sales decline by up to 25%03 November 2022, Published under Cement NewsCement sales in Pakistan in the first four months of FY22-23 are expected to decline by 21-25 per cent compared to the same period a year earlier, according to the All Pakistan Cement Manufacturers Association. Sales of local cement are forecast to drop by 22 per cent, according to analysts, who attribute the fall to higher-than-expected rainfall, rising construction costs and the ongoing inflationary environment supressing demand growth. In October cement sales are predicted to remain fla... |
Southern Province 9M profit contracts to SAR238m03 November 2022, Published under Cement NewsThe net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell by 12.3 per cent YoY to SAR887m in the 9M22 period from SAR1.01bn in the 9M21. Third-quarter 2022 financial results In the third quarter of 2022, the company’s net profits after zakat and tax saw a 20.3 per cent improvement to SAR89m when compared with SAR74m in the 3Q21. When compared with the previous quarte... |
Najran Cement reports 50% drop in profit in 9M2202 November 2022, Published under Cement NewsNajran Cement has recorded revenue of SAR375.6m (US$100.2m) in the opening nine months of 2022, down 15 per cent compared to the SAR441.89m seen in the 9M21. Net profit after Zakat and tax declined by 50.26 per cent from SAR129.51m in the 9M21 to SAR64.42m in the same period a year later. Earnings per share in the 9M22 came in at SAR0.38 versus SAR0.76 in the same period a year earlier. In the third quarter of 2022, revenue advanced by 1.43 per cent YoY to SAR127.68m, compared to SAR125.... |