Saudi Arabia: Umm AlQura signs deal with Aramco

Umm AlQura Cement has signed an agreement with Aramco to purchase fuel for its new Portland cement production line close to Taif city. According to a statement to the Saudi Stock exchange from Umm AlQura, the company expects trials and commercial production to start in 3Q16.

Umm AlQura said that the Saudi Ministry of Energy, Industry and Minerals had previously agreed to supply the fuel on the condition that the company provide a SAR100m (US$26.7m) letter of credit.