Cement News tagged under: Middle East
Kuwait Cement reports a 59% fall in quarterly profit22 March 2024, Published under Cement NewsKuwait Cement Co KSC has reported a 59.3 per cent drop in quarterly net profit from KWD2.7m (US$8.8m) to KWD1.1m between January 1 to 31 March 2024. The company's quarterly operating revenue fell 10.6 per cent to KWD18.5m, compared to KWD20.7m in the same quarter of 2023. |
Syrian Hama plant restores Plant No 3 to working order21 March 2024, Published under Cement NewsGeneral Company for Cement and Building Materials in Hama province, Syria, has restored Plant No 3 to operational status, after the completion of comprehensive maintenance of its machines and equipment by the efforts of engineering and technical cadres working in it. Maintenance work began at the Hama Cement plant last January, and the work was carried out with the expertise and national and local cadres of the cement producer’s workers with experience and specialisation, general mana... |
Riyadh Cement reports 8% uptick in sales19 March 2024, Published under Cement NewsSaudi Arabia-based cement producer Riyadh Cement Co reported a 7.6 per cent increase in sales to SAR643.4m (US$171.6m) in 2023 when compared with SAR598m in 2022 on the back of an increase in sales volumes. The company’s operating income slipped by 0.4 per cent YoY to SAR201.06m in 2023 from SAR201.94m. Net profit declined by 0.6 per cent SAR188.8m in 2023 from SAR189.8m in the year-ago period. Annual earnings were affected by higher general and administrative expenses as well as zakat c... |
Southern Province Cement Co releases its 2023 financial results19 March 2024, Published under Cement NewsSouthern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent from SAR238m in 2022. The significant decrease in profits (after tax and zakat) led to Southern Pro... |
Misr Cement becomes an exclusive agent for MAN in south Upper Egypt18 March 2024, Published under Cement NewsMisr Cement Maintenance has collaborated with Kastour Egypt for Trade and Industry, the exclusive agent of the International German truck brand MAN along with other brands. The agreement was signed by Kastour Egypt for Trade and Industry, represented by Eng Kastour Mamdouh Kastour, chairman and managing director, and Misr Cement Maintenance, represented by Eng Bassam Abdel Rasoul, group chieft echnical officer. Misr Cement Maintenance's centre is now the authorised service and mainte... |
Eastern Province Cement net profit up 39%12 March 2024, Published under Cement NewsSaudi Arabia-based Eastern Province Cement Co reported a 38.5 per cent advance in net profit to SAR198m (US$52.8m) in 2023 when compared with SAR143m in 2022. The company’s sales increased 25.6 per cent YoY to SAR985m from SAR784m. Earnings per share reached SAR2.30 in 2023, up from SAR1.67 in the year-ago period. |
Oman Cement Co envisages a series of upgrade plans08 March 2024, Published under Cement NewsOman Cement ’s decision to set up a new cement plant at Duqm with a capacity of 5000tpd clinker remains under consideration. Simultaneously, the company is upgrading its capacity by debottlenecking and enhancing the existing Line 3 cooler from 4000 to 6500tpd at its existing Muscat plant, which will increase clinker quality and production capacity. In addition, the company decided to connect the power from the 132kV grid station, for which a technical consultant was appointed, and an EPC te... |
Kuwait Cement Co invests in RDF plant07 March 2024, Published under Cement NewsIn collaboration with the Kuwait Finance Ministry, the Kuwait Cement Co (KCC) has signed a 20-year agreement for the establishment of a refuse-derived fuel (RDF) plant at a waste disposal site in Mina Abdullah, just south of Kuwait City. According to The People’s Network, the contract enables the cement producer to use the fuel produced by the new RDF facility to enhance its operational efficiency and reduce its carbon footprint. In a bourse statement, the agreement was described as a ... |
Northern Region Cement sells share in Al-Kubaisa plant05 March 2024, Published under Cement NewsNorthern Region Cement Co has announced the sale of its 50 per cent stake in Cement Experts Co for Development and Investment to UAE-based AMP Global Trading. According to The People’s Network, the deal, which has been valued at US$55m, involves the Al-Kubaisa cement plant in Iraq, in which Cement Exports hold a 51 per cent share. With Northern Region Cement relinquishing its 50 per cent share in Cement Experts, the transaction gives AMP a significant indirect interest in the Iraqi pl... |
Iranian cement consumption up 30% in January29 February 2024, Published under Cement NewsIran’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... |