Cement News tagged under: Arabian Cement Company

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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...

Arabian Cement profits down 84% in 4Q16

17 January 2017, Published under Cement News

Arabian Cement Company have reported an 84.36 per cent YoY fall in net profit in the 4Q16, according to a bourse filing. Profits reached SAR24m (US$6.4m) in 4Q16 compared to SAR153.5m in the corresponding period of the previous year. A decrease in gross profit by SAR125m was a result of a decline in sales volume and prices, as well as the increase in general and administrative expenses by around SAR3m, the company’s statement indicated. Total net profits for 2016 retreated by 18.41 pe...

Brazil: Arabian Cement back out of plant project

13 December 2016, Published under Cement News

Arabian Cement announced yesterday that it will be postponing further steps to establish a cement grinding facility in Brazil. The adverse conditions in the Brazilian economy are anticipated to impact negatively on the investment with forecast returns below expectations. The company reported it would be entering a joint venture with Cementos Relampago in 2014. The joint venture was to build a 0.23Mta grinding unit in northwest Brazil.

Egypt: Arabian Cement to install new coal mill

18 August 2016, Published under Cement News

Arabian Cement Co announced that the company's board of directors was convened last Sunday and approved the legal procedures to build a new coal mill worth EGP80m (US$9m). The company aims to increase its use of petcoke which will lead to more co-operation with Egyptian refiners companies, as well as reduce importing coal and cut operation's cost for the company's plant.

Saudi Arabia: cement firms come under pressure

09 August 2016, Published under Cement News

Saudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southern Province Cement were the top performers in 2Q16. Saudi Cement revenue was up 11 per cent YoY, whi...

Saudi Arabia: new power plant for ACC

08 June 2016, Published under Cement News

Arabian Cement Company (ACC), Saudi Arabia, has awarded MAN Diesel & Turbo a contract to build a 40MW power plant. The plant will be equipped with two 18V48/60 TS engines and will provide power to a cement factory in Rabigh, on the Red Sea coast. The new power plant will be operated by heavy fuel oil and diesel oil. Construction of the first phase of the plant is scheduled for 2016-17. With the completion of two additional phases, including the installation of a further four engines, t...