Cement News tagged under: Kuwait

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Kuwait Cement starts oil well cement production

14 March 2019, Published under Cement News

Kuwait Cement Co (KCC) has started marketing oil well cement and made its first delivery on 13 March 2019 to National Petroleum Services Company (NAPESCO). KCC is the first cement producer in Kuwait to be certified by the American Petroleum Institute (API) to produce this type of cement at its plant in  Shuaiba industrial area, Kuwait. This achievement coincides with the golden jubilee of the company. KCC currently produces OPC, sulphate-resistant cement Type V, white Portland cement, oil w...

Cemengal wins second grinding station order with ACICO Cement

04 February 2019, Published under Cement News

Cemengal has been awarded with a new contract for the supply of a second cement grinding station to ACICO Cement consisting of a complete cement mill workshop. The main equipment to be included within this new contract is related to a 5200kW ball mill fully engineered by Cemengal of Spain with all the peripheral equipment and a fourth-generation classifier from Magotteaux XP4i-130 for high-strength cements. The projected grinding capacity will be 1Mta of cement and the plant will be commiss...

Kuwait Portland Cement reports KWD7.8m in 9M profit

14 November 2018, Published under Cement News

Kuwait Portland Cement has posted a net profit of KWD2.4m (US$7.9m) in 3Q18, down 23.1 per cent when compared with KWD3.12 in 3Q17, according to a company statement on the Kuwaiti stock exchange. For the 9M18, profits fell 4.5 per cent to KWD7.82m from KWD8.19m in the year-ago period. Operating profits fell five per cent YoY to KWD5.4m.

Kuwait Cement FY17 profit falls 12%

07 March 2018, Published under Cement News

Kuwait Cement saw a YoY increase of 15.4 per cent in profits to KWD4.94m (US$16.5m) in 4Q17 from KWD4.28m in 4Q16, according to a stock exchange statement. However, in FY17, Kuwait Cement reported a drop of 11.8 per cent in profits to KWD17.19m, compared to KWD19.49m in FY16. The fall is attributed to higher financing costs (KWD480,450) as well as a decline in consolidated profit (KWD3.55m).

Iraq plans sell off of damaged cement factories

24 January 2018, Published under Cement News

Iraqi Minister of Industry, Mohammad Sudani, has announced plans to sell off destroyed or damaged cement factories and oil refineries in northern Iraq that were caught up in the war against Islamic State (IS). At a recent international conference held in Kuwait, the minister prepared a file of the damaged factories to show to potential investors, reports Kuwait News Agency (KNA). The Kuwaiti investors were told they would have priority to buy the facilities. Iraq is said to need around U...

Iran exports 7.1Mt of cement in 7FY17-18

15 November 2017, Published under Cement News

Iran has exported cement to the value US$233m in the first seven months of the current financial year (started 20 March 2017). In terms of volumes, 7.1Mt of cement were exported to some 34 countries during this period. Exports included US$5000 of white Portland cement to the US but Iran’s main customer was Iraq, with an offtake of cement to the value of US$64m. Smaller shipments were delivered to Afghanistan (US$46m) and Kuwait (US$23m). In terms of products, white cement was the most...

Kuwait Portland Cement chairman buys 1.46m shares

12 September 2017, Published under Cement News

The chairman of Kuwait Portland Cement, Khaled Al Sager, has purchased 1.46m of the company’s shares on Wednesday, 6 September. The total value of the purchased stake stood at KWD1.42m (US$4.71m) or 970 fils per share. Portland Cement’s capital stands at KWD10.02m, which is distributed on 100.2m shares. Kuwait Portland Cement Company is the third and final player on the Kuwaiti cement market with a 1Mta integrated plant in Shuwaikh.

Kuwait Cement sees decline in quarterly profit

10 August 2017, Published under Cement News

Kuwait Cement reported a decline of 37.1 per cent in profits to KWD4.38m (US$14.48m) in the second quarter this year compared to KWD6.96m (US$23.01m) in the same quarter a year ago. In the first half of 2017, the company posted a fall of 17.9 per cent in profits to KWD9.98m compared to KWD12.16m in 1H16, according to a bourse filing issued on Wednesday. The decrease in profits is attributed to a higher finance cost to the consolidated income statements by KWD154,430, as well as a drop...

Kuwait Cement FY16 profit up to KWD19.5m

17 March 2017, Published under Cement News

Kuwait Cement reported a modest increase of its full-year profit from KWD19.3m (US$63.2m) in FY15 to KWD19.5m in FY16. The company’s total operating revenue advanced from KWD92.2m in FY15 to KWD98.6m in FY16.

Kuwait: Gulf Cement Co to produce oil well cement

20 February 2017, Published under Cement News

Gulf Cement Co was granted a permit for the production of oil well cement from the American Petroleum Institute. Gulf Cement reported a 27.1 per cent fall in profits to KWD4.141m (US$13.56m) in FY16 from KWD5.683m in the previous fiscal year.