Cement News tagged under: Arabian Cement Company

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Egypt sees cement sales surge 42% in June

21 July 2020, Published under Cement News

Egypt's cement industry has reported a sudden surge in total sales, recording 3.64Mt during June 2020, including minimal exports, up 42 per cent MoM and one per cent YoY. June's improvement follows on from one of the lowest monthly sales run rates on record during May, which were impacted by the coronavirus (COVID-19) pandemic and the partial lockdowns. The MoM turnaround was recorded across companies including Suez Cement, which reported a sales growth of 55 per cent MoM and 24 per cent...

Solar power plant approved for Arabian Cement

08 June 2020, Published under Cement News

The Egyptian Electricity Utilities Regulatory and Consumer Protection Agency (EgyptERA) has approved the construction of a 7.5MW solar power plant for Arabian Cement Co. The approval request was submitted by SolarizEgypt, following an agreement signed with Arabian Cement more than a year ago. SolarizEgypt will construct the solar power plant on an area of approximately 96,000m² and sell the electricity to the cement company for a period of 25 years under a BOOT (Build Own Operate Trans...

Arabian Cement record profit fall of 88% in 1H19

21 August 2019, Published under Cement News

Arabian Cement Co (ACC) of Egypt announced a fall in profits of 88.1 per cent to EGP25.3m (US$1.52m) for 1H19 compared to EGP212.77m in 1H18. Profits in 2Q19 dipped to EGP19.4m from EGP50.7m in 2Q18, but this was an imporvement on 1Q19 profts of EGP5.97m, down from EGP162m in 1Q18. Cement sales in 1H19 amounted to EGP1.6bn compared to EGP1.64bn in 1H18. ACC (Cementos La Union group) has a clinker capacity of 4.2Mta and can produce up to 5Mta of cement.

Arabian Cement makes 2Q18 net loss of SAR50.9m

24 August 2018, Published under Cement News

Arabian Cement Company (ACC) registered a net loss of SAR50.9m (US$13.5m) in the 2Q18 mainly due to reduced performance at its Qatrana Cement factory in Jordan. The company's net profits fell by 5.5 per cent in 2Q18 compared to 2Q17, while sales reached 0.533Mt in 2Q18 down 34 per cent YoY. The Qatrana Cement plant recorded a higher than estimated net loss of SAR52.2m in 2Q18. The company held an inventory of 1.34Mt by the end of June, representing 42.2 per cent of the last 12 month's pro...

Increased demand for alternative fuel in Egypt

11 April 2018, Published under Cement News

Egypt’s Minister of Environment, Khaled Fahmy, has opened a cement production line at Arabian Cement Co’s facility in Ain Sokhna, Suez, that uses Hot Disk technology for alternative fuel production from recycled waste, according to Watani. At the opening, Dr Fahmy noted that now waste is being used as a source of alternative fuel, a new system of efficient collection and handling needs to be put in place. Since the rise in coal prices, there has been an increased demand for alternative fu...

Arabian Cement in merger talks with Al Safwa Cement

09 October 2017, Published under Cement News

Arabian Cement has entered into potential merger talks with Al Safwa Cement of Saudi Arabia, owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation for Social Insurance (GOSI). Arabian Cement has been attracted by the locational advantage of the plants of both companies and source of raw materials, besides the cost savings in selling, general and administrative expenses and relatively lean inventories, according to Al-Rajhi Capital Research. In addition, both...

Qatrana Bank receives US$140.9m loan from Arab Bank Jordan

21 July 2017, Published under Cement News

Jordan-based Qatrana Cement, the subsidiary of the Saudi-based Arabian Cement Co, signed an agreement with Arab Bank Jordan for a loan worth JOD100m (US$140.9m). The loan will be repaid on eight years divided into 16 equal installments, Arabian Cement added in its statement to the Saudi Stock Exchange (Tadawul). The fianl instalment will be on 11 June 2025. The receipts of financing will be used by Qatrana Cement to repay part of the funding previously awarded to the plant by parent com...

Arabian Cement launches round 2 of social start-up

22 May 2017, Published under Cement News

Egypt-based Arabian Cement Company (ACC) has launched the second round of its social start-up programme, continuing in partnership with Nahdet El Mahrousa (NM), TradeArabia reports. Building on the success of the first round, Khaleeha Suessi will offer entrepreneurship training for 15 shortlisted start-ups, out of which more than six start-ups will eventually receive seed funding and incubation services for one year. This round of Khaleeha Suessi is bringing together several community c...

Arabian Cement quarterly net profit rises

09 May 2017, Published under Cement News

Arabian Cement Co of Egypt posted consolidated net profits of EGP59,741,627 (US$3.3m) in the first three months of this year, versus net profits of EGP34,145,321 in the same period a year ago, the company announced in a statement sent to Egyptian Stock Exchange. Moreover, it posted standalone net profits of EGP59,101,824, versus net profits of EGP 33,324,334 in the same period a year ago. Separately, the company said it is to undertake three upgrade projects involving an investment of m...

Egypt: Arabian Cement to reduce US$ loans

30 January 2017, Published under Cement News

The Arabian Cement Company plans to accelerate the repayment of US dollar loans owed to banks during the current year to decrease the total value of these debts to EGP40m (US2.1m), compared to EGP65m (US$3.46m) in 2016. An official at the Arabian Cement Company told Daily News Egypt that the company made the decision to avoid the high cost of dollar debts after the Egyptian pound’s floatation in November, which increased the dollar price from EGP8.88 to more than EGP19. The source added...