Cement News tagged under: Middle East
Attock Cement to sell its 60% share in Iraqi plant09 May 2023, Published under Cement NewsAttock Cement Pakistan Ltd (ACL) is expected to hold an Extraordinary General Meeting (EGM) of the shareholders on 25 May 2023, to consider and, if deemed fit, to pass a resolution of disposal and to enter into a share purchase agreement 18m shares held by the company in its subsidiary, Saqr-Al-Keetan cement grinding unit in Iraq. The grinding plant has a cement capacity of 540,000tpa and was set up in 2019. ACL will sell 60 per cent of the entire share capital of Saqr Al-Keeta... |
Oman Cement sales advance in 1Q2325 April 2023, Published under Cement NewsOman Cement Co has reported sales of OMR19.5m (US$50.65m) in the opening quarter of 2023, ending 31 March 2023. This compares to OMR16.96m in the same period a year earlier. Net income in the first quarter came in at OMR2.04m, up from OMR0.9m in the first three months of 2022, reports Market Screener. |
Saudi cement companies fined for price manipulation14 April 2023, Published under Cement NewsSaudi Arabia’s General Authority for Competition (GAC) has fined 14 cement companies a total of SAR140m (US$37.33m) for price manipulation activities. Each company has been found guilty of trying to manipulate Saudi’s cement market with price increases, resulting in a SAR10m fine each. According to the Saudi Gazette, the GAC received numerous complaints that several cement producers were collaborating to raise cement prices and share the local market between themselves. After collecti... |
Oman will not export used tyres12 April 2023, Published under Cement NewsThe Omani Environment Authority (EA) has suspended issuing licences for exporting used tyres to support the local cement and other industries. The authority is also working on deciding to prevent waste cartons for export. Oman Cement was set to commission a first-of-its-kind project using shredded tyres as an alternative fuel source for its cement manufacturing operations. The power project was scheduled to be completed at the end of last year. Speaking to local media, Dr Mohammad Ma... |
New cement plant for Afghanistan03 April 2023, Published under Cement NewsAfghanistan will increase its cement capacity with a new 1Mta cement plant, the Shur Andem cement project, located in Kandahar. The acting head of Kandahar’s Mines and Petroleum Department, Abdul Hanan Hamid, said the project represents an investment of US$100m. “The production will be low initially but eventually, around 5000 people will be employed here,” said Abdul Rahim, head of the company. Practical work in terms of cement production will start within one year, according TOLO news, ... |
Southern Province Cement makes progress on new 10,000tpd line29 March 2023, Published under Cement NewsSaudi-based Southern Province Cement Company (SPCC) has reportedly completed its study into the construction of a new 10,000tpd production line at its Jazan plant, and work was now underway to draft and review the EPC contract. According to Zawya, the new line will replace the existing line at the plant, with the cement producer saying in December 2022 that it hoped to sign the contract for the new line in the opening quarter of 2023. SPCC currently runs three plants in Bisha , Ja... |
Tabuk Cement reports 30% YoY increase in revenue in 202224 March 2023, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co has reported revenue of SAR297.55m (US$79.35m) in 2022, up 30.2 per cent from the SAR228.53m seen in 2021. Over the same period, net profit after zakat and tax advanced 18 per cent from SAR17.76m to SAR20.97m. Meanwhile, earnings per share rose from SAR0.20 to SAR0.23, reports Zawya. In the first nine months of 2022, revenue was up 20.6 per cent YoY at SAR210.11m, while net profit fell 80.71 per cent YoY to SAR3.36m. |
Umm Al Qura sees net profit plunge 72% YoY in 202223 March 2023, Published under Cement NewsSaudi Arabia-based Umm Al Qura Cement Company has reported revenue of SAR221.21m (US$58.99m) in 2022, down 20.66 per cent from the SAR278.83m seen in the previous year. Net profit after zakat and tax over the same period fell 71.77 per cent to SAR22.98m, reports Zawya. Earnings per share in 2022 came in at SAR0.42, compared to SAR1.48 in 2021. In the first nine months of 2022, the company saw revenue contract by 15.13 per cent YoY to SAR179.29m, while net profit after zakat and tax was do... |
Saudi Arabia cement exports advance 46% in February22 March 2023, Published under Cement NewsCement sales in Saudi Arabia edged up one per cent to 4.215Mt in February 2023 from 4.155Mt in February 2022, according to Yamama Cement . Export sales, which accounted for four per cent of total sales, advance 46 per cent YoY to 119,000t from 174,000t in February 2021. January-February 2023 In the year to date domestic sales declined 10 per cent YoY to 8.118Mt from 8.994Mt in January-February 2022. Export sales surged 113 per cent to 389,000t in the 2M23 from 183,000t in the 2M22. Sa... |
Eastern Province Cement FY profit sees 26% drop21 March 2023, Published under Cement NewsFull-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period. Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased. Meanwhile, Eastern Province Cement has invited bids from specialist companies for the establishment of a new clinker prod... |