China’s Sinoma suspends Union contract
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.
Published under Cement News
