Cement News tagged under: Arabian Cement Co
Arabian Cement to penalise CNBM on Rabigh project26 February 2024, Published under Cement NewsArabian Cement Co has confirmed that it will impose a delay damage penalty of five per cent on CNBM International Engineering Co for the Saudi cement producer’s new mills at its Rabigh plant. According to Zawya, the cement manufacturer first awarded the SAR362m (US$96.5m) engineering, procurement and construction (EPC) contract to CNBM in April 2015. Although the new cement mills are now completed, the project has been delayed due to discussions between CNBM and Sinoma Overseas Devel... |
Arabian Cement subsidiary moves a step closer to gaining waste management approval18 December 2023, Published under Cement NewsEvolve, an Arabian Cement Co (ACC) subsidiary, has successfully conducted a public hearing session, marking the initial step in obtaining environmental approvals from the Ministerial State for Environmental Affairs Agency (EEAA) and Waste management Regulation Authority (WMRA) for waste management. Evolve is the first alternative fuel company affiliated with an Egyptian cement company to secure these approvals, and the milestone was achieved through a comprehensive public hearing on ... |
Arabian Cement reports 17% drop in 1Q profit16 May 2023, Published under Cement NewsArabian Cement Co posted a net profit after zakat and tax of SAR49.2m (US$13.1m) in the 1Q23, down 17.4 per YoY from SAR41.9m. It was 40.2 per cent higher QoQ when compared with SAR35.1m in the 4Q22. The company’s sales declined 7.4 per cent YoY to SAR240.1m in the 1Q23 when compared with SAR259.3m in the equivalent period of the previous year, according to Mubasher. |
Bullish 4Q22 results expected for Saudi Arabian producers19 January 2023, Published under Cement NewsTwelve Saudi Arabian cement companies' aggregate profit listed on Tadawul are expected to surge 101 per cent YoY and 20 per cent QoQ to SAR617m (US$164.5m) in the 4Q22, according to a local research house. Argaam sees bullish forecasts for most Saudi Arabian cement producers in the 4Q22 compared to the year-earlier period. Tabuk Cement Co , Yamama Cement Co , Yanbu Cement Co , City Cement Co and Arabian Cement Co are expected to post the biggest rise in the fourth-quarter profit. ... |
Arabian Cement Co amends solar power contract09 November 2022, Published under Cement NewsArabian Cement Co (ACC) has announced the signing of an amendment to its 2019 contract with Amarenco SolarizEgypt (ASE) to establish a Solar Photovoltaic (PV) plant at its Suez facility. The amendment to the agreement aligns with updated regulations recently issued by 'EgyptERA', the Egyptian Electric Utility and Consumer Protection Regulatory Agency. The adjusted contract limits the total solar capacity contracted to 30MW with a maximum of 25MW per one project. Currently, the total sol... |
Arabian Cement 1Q profits see 37% drop17 May 2022, Published under Cement NewsArabian Cement’ s net profit after zakat and tax declined 37 per cent YoY to SAR41.9m (US$11.2m) in the first quarter of 2022. When compared with the fourth quarter of 2021, net profits surged by 79.3 per cent from SAR23.3m. Revenues decreased 19.3 per cent YoY to SAR259.3m in the 1Q22 from SAR321.5m, according to a bourse filing. When compared with the previous quarter, 4Q21, revenues edged up by 1.4 per cent from SAR255.8m. |
Arabian and Najran Cement take drop in net profits02 March 2022, Published under Cement NewsArabian Cement Co posted revenues of SAR1003m (US$267.5m) in 2021, up 18.5 per cent YoY from SAR871.9m. However, the company saw its net profit after zakat and tax decline by 12.6 per cent to SAR161.5m in 2021 from SAR184.9m in 2020. Meanwhile, Najran Cement Co reported a 6.7 per cent drop in revenues to SAR581.6m in 2021 from SAR623.2m in 2020. Its net profits after zakat and tax fell 17.6 per cent YoY to SAR165.54m in 2021 from SAR200.94m in 2020. |
Arabian Cement expects start Rabigh mills for 4Q2230 December 2021, Published under Cement NewsWhile completion of the new cement mills at Arabian Cement Co’s Rabigh plant in Saudi Arabia has reached 99.5 per cent, the project’s contractor, CNBM, has not been able to enter the country to resume work on the project, said Arabian Cement Co in a statement to the Saudi stock exchange. Resumption of work will be possible following the approval of relevant government agencies in China for the project team’s travel requirements. As a result, the expected date of commercial operations will ... |
Arabian Cement sees 49% surge in profit10 May 2021, Published under Cement NewsSaudi Arabia’s Arabian Cement Co has seen a 48.5 per cent YoY surge in net profit to SAR67m (US$17.87m) in the first quarter of 2021, up from SAR45.1m in the 1Q20. Sales increased 57 per cent YoY to SAR321.5m from SAR204.6m, or up 10.5 per cent QoQ from SAR290.8m. Net income also advanced 25.7 per cent QoQ from SAR53.3m. |
Arabian Cement reports net loss in 202001 March 2021, Published under Cement NewsEgypt’s Arabian Cement Co has reported an EGP122.78m (US$7.8m) net loss during 2020, compared with an EGP28.92m profit in the previous year. Sales revenues declined 20 per cent YoY to EGP2.48bn from EGP3.1bn. On a standalone basis, the company saw losses reach EGP116.21m against an EGP30.09m profit in 2019. |