Cement News tagged under: Middle East
Iran’s cement market expands 3% in November15 December 2022, Published under Cement NewsIranian 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 dividends12 December 2022, Published under Cement NewsYanbu 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 November08 December 2022, Published under Cement NewsThe 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 exports08 December 2022, Published under Cement NewsIran 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 Cement28 November 2022, Published under Cement NewsThe 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... |
IFC loan proposed for new Al Douh Cement production line16 November 2022, Published under Cement NewsIFC is proposing a corporate loan of up to US$65m to Al Douh Cement Co , one of the leading producers of cement in Iraq, to finance the company’s planned expansion of its production capacity. The project envisages the construction of a new production line of sulphates-resistant cement within the same site, with a capacity of 2Mta. The new line will be equipped with a kiln fuelled by natural gas and powered by a 50MW captive gas fired power plant, which will be built as part of the pro... |
Iran’s cement demand stable in October15 November 2022, Published under Cement NewsThe Iranian cement market expanded 0.3 per cent to 5.22Mt in October 2022 from 5.05Mt in October 2021, according to the Iranian cement association. Domestic cement production in October 2022 reached 5.66Mt, up 3.6 per cent from 5.46Mt in October 2021. Clinker production edged up from 7.02Mt in October 2021 to 7.09Mt on year later. The output figures include 0.79Mt of clinker exports and 0.39Mt of cement exports. In terms of clinker exports, this represents a 21.5 per cent advance YoY fro... |
Kuwait Portland Cement 3Q profit stable15 November 2022, Published under Cement NewsKuwait Portland Cement posted a 3Q total operating revenue of KWD32.7m (US$106.2m) in 3Q22, up from KWD27.6m in the equivalent period of 2021. The company’s net profit attributable to shareholders remained stable at KWD1.3m in the 3Q22. |
Umm Al Qura Cement sees net profit slide 54% YoY in 9M2208 November 2022, Published under Cement NewsSaudi Arabia’s Umm Al Qura Cement Company has reported a 15.13 per cent drop in revenue to SAR179.29m (US$47.8m) in the first nine months of 2022. This compares to SAR211.25m in the same period a year earlier, according to Zawya. Net profit after Zakat and tax over the same period fell from SAR61.92m to SAR28.44m marking a contraction of 54.06 per cent. In the third quarter of 2022, revenues fell 4.81 per cent YoY from SAR56.95m to SAR54.21m, while net profit after Zakat and tax plunged ... |
Suez Cement orders 45GWh solar power project04 November 2022, Published under Cement NewsSuez Cement Group ( Heidelberg Materials ) signed an electricity generation agreement with Intro Power and Utilities with the aim of constructing a solar power plant at the Suez Cement Factory with investments estimated at EGP350m (US$14.4m). The project will provide a production capacity of 45GWh of clean electricity, which eliminates approximately 22,000t of CO 2 emissions annually or 440,000t over 20 years. The project is scheduled to install solar energy systems with a total capa... |