Cement News tagged under: Al Jouf Cement

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Al Jouf Cement to convert second line to white cement production

24 April 2019, Published under Cement News

Saudi Arabia’s Al Jouf Cement Co has signed a non-binding memorandum of understanding with Riga Co to convert its second line to the production of white cement. The line, which to date produced grey cement, reportedly entered trial production in 2013 and currently has a clinker capacity of 5000tpd. The company has stated that the agreement will enter into force on the date it is signed for a period of six months.

Saudi producers to benefit from Neom Bay construction start-up

21 January 2019, Published under Cement News

Saudi Arabia will start developing the first major area of Neom, the kingdom's multi-billion dollar mega-city, from 1Q19. The founding board of Neom, chaired by Crown Prince Mohammed bin Salman, approved the concept of the masterplan for ‘Neom Bay’ which will be the first residential area to be developed in the city. The construction work will be completed in 2020. The full implementation phase of the US$500bn Neom project could potentially bring in more than 20Mta of cement demand at its...

Al Jouf Cement to supply Palestinian market

18 October 2018, Published under Cement News

Al Jouf Cement of Saudi Arabia has signed an agreement with Palestine-based Sanad Trading and Marketing to export 50,000t of cement and clinker annually. Al Jouf made the announcement in a bourse staement on Thursday and said the finanical deal will show in mid-4Q18. Sanad is the largest distributor of cement in Palestine and meets 65 per cent of cement demand.

Al Jouf Cement Company to export 72,000tpa to Jordan

28 November 2017, Published under Cement News

Al Jouf Cement Company signed a sales and marketing contract with the Saudi Industrial Export Company (SIEC) on Sunday, according to a statement released on Tadawul. This follows the signing of a memorandum of understanding back in October. The agreement will see 72,000tpa of cement exported to Jordan. The financial impact of this contract will be announced in 1Q18.

Tabuk and Al Jouf net profit dragged down by lower demand

08 August 2017, Published under Cement News

Saudi-based producers Tabuk Cement and Al Jouf Cement have reported a decline in second quarter net profit due in part to lower demand. Tabuk Cement, which operates a 1.2Mta plant in Duba, said net profit fell by 93.84 per cent YoY to  SAR1.3m (US$346,619). Quarter-on-quarter, net profits fell 85.06 per cent. The smallest of Saudi’s established grey cement producers, Tabuk Cement attributed the decrease to lower demand and prices. In the first half of 2017, net profits declined 76.42 per c...

Saudi Arabian cement sales down 16% in January

15 February 2017, Published under Cement News

Domestic cement deliveries in Saudi Arabia in January 2017 were 15.9 per cent lower than in the same month the previous year, according to statistics released by Yamama Cement. At 4.78Mt, cement sales in the country were significantly below the January 2016 figure of 5.68Mt. Meanwhile, Saudi producers continue to amass clinker stocks, adding another 0.4Mt to their reserves in January. Clinker stocks now amount to 28.5Mt – enough to supply more than six months of Saudi cement demand at ...

Saudi Arabia: Yanbu, All Jouf and Saudi Cement see fall in 3Q16 profits

19 October 2016, Published under Cement News

More Saudi cement producers have reported a fall in profits for the third quarter of 2016. The decline in profits were attributed to lower sales and a drop in average selling prices as competition intensified amid weaker demand. Higher oil prices have also been cited as a major factor in the decrease. Yanbu Cement company recorded a 35.9 per cent drop in profits during the period from SAR145m (US$38.7m) in 3Q15 to SAR93m (US$24.8m), according to a bourse filing. Profits also fell QoQ, by ...

Saudi Arabia: sales volumes fall 27%

25 July 2016, Published under Cement News

Total cement sales in Saudi Arabia declined 27 per cent YoY and 39.6 per cent MoM in June, to 4.1Mt. Cement production in June was 3.66Mt, down 25 per cent YoY and 34.6 per cent MoM. June’s fall in sales volume can be attributed to Ramadan, which fell solely in June this year, unlike last year when it was split across June and July. All cement producers reported a decline in sales during the month. Al Jouf, Saudi and City Cement experienced the lowest declines in sales, with figures falli...

Al Jouf Cement 4% decline in 1Q profit

20 April 2016, Published under Cement News

Saudi Arabian cement producer, Al Jouf Cement Co posted on Tuesday a net profit of SAR 24.72m (US$6.59m) in the first quarter of 2016, four per cent down from SAR 25.76m (US$6.87m) in 1Q15. The fall in in profit was a result to the drop in the average selling price and higher finance charges and expenses of Zakat in this period, despite the increase in sales volume and other revenue from an inventory adjustment, according to a bourse filing

Saudi: Al Jouf Cement signs financing agreement with Alinma Bank

16 December 2015, Published under Cement News

Al Jouf Cement has signed a Murabaha financing agreement with Alinma Bank at a total value of SAR350m. The financing period extends from 15 December 2015 until 14 December 2022, with a grace period of two years, the cement producer said in a bourse statement. The facility, secured against a promissory note, is aimed at rolling over the company's outstanding loans and financing some of the current projects. Al Jouf's second production line will help repay this loan, the statement added