Cement News tagged under: Middle East

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Tabuk Cement appoint a new chairman and vice-chairman

27 January 2023, Published under Cement News

Tabuk Cement ’s  board of directors have appointed Yazid bin Khalid Al-Shathri as chairman, and Tareq Alangari as vice-chairman, according to a statement to Tadawul. Amal Redaa was also appointed as board secretary. The board approved the formation of the executive committee, which comprises Yazid Al-Shathri (non-executive) as chairman, as well as Abdul Aziz Al-Khamis (independent), CEO Ali Al-Qahtani (executive) and Mohsen Al-Fahadi (independent) as members.   The nominations an...

IKN commissions Southern Province Cement cooler

25 January 2023, Published under Cement News

IKN has successful commissioned the new Southern Province Cement Co Bisha line 1 clinker cooler in Saudi Arabia. This is the conclusion of a very challenging project that started with the preassembly of the IKN equipment, directly followed by the shutdown, whereby the existing cooler was demolished and replaced by the latest generation IKN cooler. The excellent collaboration between Sweden Industrial Services and IKN was key in bringing this endeavour to a successful close, workin...

Bullish 4Q22 results expected for Saudi Arabian producers

19 January 2023, Published under Cement News

Twelve 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. ...

Saudi cement demand to remain flat in 2023

10 January 2023, Published under Cement News

Cement demand in Saudi Arabia is forecast to remain flat in 2023 before expanding by five per cent YoY in 2024, according to a report by SICO Bank. Cement demand fell by 1.8 per cent YoY in November 2022, despite the previous month being the strongest October since 2015. For the whole of 2022, SICO predicts demand to have declined by one per cent YoY. Looking ahead, 2024 growth is expected to be driven by a boom in construction activity on the back of developments in the tourism sector an...

Iranian cement production expands 6% in 9M22

02 January 2023, Published under Cement News

Cement production in Iran increased 5.7 per cent YoY in the first nine months of the current Iranian calendar year (21 March-21 December 2022), according to data released by the Industry, Mining and Trade Ministry. Total output during the nine-month period reached 33.943Mt, up from 32.109Mt in the equivalent period of the previous year. In 2021 the country produced 63Mt of cement, of which it exported 14.4Mt.

Iran’s cement market expands 3% in November

15 December 2022, Published under Cement News

Iranian cement consumption increased by 2.9 per cent to 5,514,796t in November 2022 when compared with the year-ago level of 5.36Mt, according to the Iran Cement Association. Domestic clinker and cement production reached 6,642,108t and 5,736,653t, respectively. This represents a one per cent YoY increase from 6.57Mt of clinker and a 7.2 per cent advance from 5.35Mt of cement in November 2021. Iran’s cement producers exported 1,207,943t of clinker (+ 24.5 per cent YoY from 0.97Mt) and 45...

Yanbu Cement pays out US$31m in dividends

12 December 2022, Published under Cement News

Yanbu Cement Company is to pay out cash dividends worth SAR118.12m (US$31.49m) to shareholders in the second half of 2022. This represents 7.5 per cent of capital. According to the bourse disclosure, the Saudi Arabia-based company will disburse SAR0.75 per share for 157.5m eligible shares.  The cement producer reported a 4.38 per cent YoY advance in net profit after zakat and tax to SAR156.24m in the opening nine months of 2022. Revenues slipped 0.13 per cent to SAR741.9m, while earning...

Saudi cement sales rise 5% in November

08 December 2022, Published under Cement News

The aggregate sales of 17 Saudi cement producers rose one per cent YoY to 4.8Mt in November 2022, according to Yamama Cement Co ’s data. Locally, nine market players reported sales growth, led by United Cement Co with 110 per cent YoY, followed by Northern Region Cement Co with 54 per cent YoY. Eight cement producers reported lower sales, including Umm Al-Qura Cement Co with a fall of 46 per cent YoY. Al Jouf Cement Co had the next largest drop in sales at 22 per cent YoY. Seven...

Iran sees 4% increase in cement exports

08 December 2022, Published under Cement News

Iran exported 7.6Mt of cement in the first seven months of the current Iranian calendar year (March 2021-October 2022), according to data from the Iranian Industry, Mining and Trade Ministry. This marks a four per cent increase on the same period a year earlier. In total last year, Iran exported 14.4Mt of cement, putting it in fourth place among the world’s leading cement exporters. Meanwhile, 2021 saw Iran produce 63Mt of cement, making it the seventh biggest cement producer in the world...

CMA suspends trading of shares in Raysut Cement

28 November 2022, Published under Cement News

The Capital Market Authority (CMA) has suspended the trading of shares in Oman-based Raysut Cement SAOG after material misrepresentations were spotted in the company’s unaudited financial reports for the second quarter of 2022, published on 10 November 2022. According to the Oman Daily Observer, the misrepresentations were picked up during an audit of the results as they were inconsistent with international accounting standards and therefore the results do not reflect the real financial...