Cement News tagged under: Middle East

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Iranian cement consumption up 30% in January

29 February 2024, Published under Cement News

Iran’s cement market expanded 30.4 per cent YoY to 5.27Mt in January 2024 from 4.04Mt in January 2023, according to the Iranian cement association. Domestic cement producers manufactured 5.78Mt of cement and 6.21Mt of clinker in the first month of 2024, representing an increase of 33.2 and 31.8 per cent, respectively, when compared with January 2023. A total of 1.18Mt of cement and clinker was exported in January 2024 with cement exports advancing 63 per cent YoY to 0.44Mt but clinker ex...

City Cement predicts 8% cost increase

28 February 2024, Published under Cement News

City Cement has said that its total costs are expected to advance by eight per cent following the increase in the price of fuel products used in cement products that was announced by Saudi Arabian Oil Co (Aramco) last month. According to Mist News, the direct financial impact is expected to be seen from the first quarter of 2024, although the company added that its investments in alternative fuel and waste heat recovery systems had helped to mitigate some of the fuel price increase. 

KREISEL to supply Saudi Arabian project

27 February 2024, Published under Cement News

A leading Chinese EPC provider has ordered KREISEL to supply three high-pressure rotary valves size 700x700 with Ultra-Carbide®-protection for a cement producer in Saudi Arabia. Each line conveys 125tph of raw meal over a distance of 263m into the receiving silos. Compared to other pneumatic conveying systems on the market, KREISEL’s high-pressure rotary feeders are known for a very energy-efficient transport of the product, claims the company. In addition to the three high-pressure rotary ...

Arabian Cement to penalise CNBM on Rabigh project

26 February 2024, Published under Cement News

Arabian 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...

Emirates Steel Arkan and Magsort collaborate on decarbonisation

26 February 2024, Published under Cement News

Emirates Arkan Steel (ESA) has announced a strategic collaboration with Magsort, a Finnish decarbonisation company, to drive an innovative initiative across ESA's Al Ain cement plant. The partnership, announced at the Cemtech MEA 2024 conference in Dubai last week, positions ESA’s cement operations at the forefront of sustainability and sets the stage for a transformative approach to green cement production.  The collaboration will initiate the first large-scale industrial pilot test,...

City Cement Co reports a fall in sales quantity during 2023

23 February 2024, Published under Cement News

City Cement Co of Saudi Arabia has recently uploaded its annual financial results for the period ending on 31 December 2023 at the Saudi Exchange. During this period, the company’s net profit fell by 28.70 per cent to SAR82m (US$21.86m) from SAR115m earned in the same 12-months last year. A cursory look at the financial results tells that company sales shrunk by 17.36 per cent, which has caused the decline in profit YoY. The sales revenue was SAR356m against SAR431m of the previous financi...

Qassim Cement Co is to acquire all of Hail Cement Co's shares

20 February 2024, Published under Cement News

Two cement producers in Saudi Arabia are in the amalgamation process and have informed their intention with limited details to the local bourse. According to a notification of both firms at the Saudi Exchange, Qassim Cement Co (QCC) is to acquire all of Hail Cement Co ’s shares. Concerning the announcement made by Hail Cement Co (HCC) on the Saudi Exchange website recently regarding the entry into a binding implementation agreement (the “Implementation Agreement”) with Qassim Cement Co...

Raysut Cement Co announced a change of board member

20 February 2024, Published under Cement News

Raysut Cement Co informed the Muscat Stock Exchange on 18 February that Mubeen Jaleel Khan resigned as a board member due to personal reasons. This was effective from 15 February 2024. Subsequently, the company announced that the Capital Market Authority (CMA) had appointed Shabib Mohammed Saif Al Darmaki as the new board member, succeeding Mr Mubeen. This is effective from 15 February 2024. Mr Shabib currently serves as the chairman of the Board of Directors of Oman National Investment...

Prospects for the GCC industry

19 February 2024, Published under Cement News

The Gulf Cooperation Council (GCC) economy has come under pressure from falling oil revenues, but economic diversification is paying off. Moving into 2024, cement market growth is expected across the region, headed by construction projects in Saudi Arabia and UAE, but cement overcapacity continues to overshadow the production base. The GCC cement markets of Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain are poised for growth in 2024, lead by residential and commercial activ...

Gulf Cement Co sees revenue advance 33% YoY

16 February 2024, Published under Cement News

Gulf Cement Co has posted revenue of AED462.7m (US$125.99m) for 2023, up 33 per cent from the AED348.1m reported in the previous year. For 2023 the company saw a loss of AED21.84m versus a loss of AED30.46m in 2022. According to the company, the losses are the result of challenges including an increase in supply compared to demand, and falling cement and clinker prices in the local and export markets following dumping and intense competition. The global financial crisis has also had a m...