Cement News tagged under: Middle East
RAK White Cement sees revenue down 7%17 March 2021, Published under Cement NewsUAE-based RAK White Cement has seen a 34.6 per cent YoY decline in attributable net profit to AED12.69m (US$3.46m) in 2020, compared to AED19.41m in the previous year. Revenues declined 6.5 per cent YoY to AED221.19m from AED236.48m in 2019. |
Oman Cement receives bids for new project16 March 2021, Published under Cement NewsOman Cement Co has reportedly received commercial bids from EPC contractors for its integrated cement plant in Duqm, according to Muscat Daily. The 5000tpd project is expected to represent an investment of US$250m. "Offers from the EPC bidders have been received and after initial valuation the deviations in the commercial offers are yet to be updated and submitted by the EPC bidders," said the company. The company is also planning to set up a power plant to achieve a higher energy effici... |
Sharjah Cement sees 26% revenue decline in 202015 March 2021, Published under Cement NewsUAE-based Sharjah Cement has reported a 25.6 per cent decline in revenue to AED431.63m (US$117.53m) for 2020, compared to AED580.1m in the previous year. The cost of sales declined to AED436.99m from AED543.8m. The company also posted an AED70.64m loss for the year, compared to an AED12.07m profit in 2019. |
Lucky Cement starts commercial operations at Samawah plant12 March 2021, Published under Cement NewsLucky Cement Ltd has announced the commencement of commercial operations of its Samawah plant in Iraq. The company in a notification to the Pakistan Stock Exchange (PSX) on Thursday informed, "We are pleased to announce that the greenfield cement production facility in Samawah, Iraq with a capacity of 1.2Mta has successfully commenced its commercial operations with effect from 10 March 2021." The production facility is a joint venture with the Al-Shamookh group of Iraq. With the l... |
Cementir sees strong regional sales in Turkey11 March 2021, Published under Cement NewsCementir Holding’s consolidated results for 2020 saw a surge in Turkish local cement demand and exports. This saw an increase in revenues of 53 per cent in local currency and a rise of 39 per cent in overall clinker and cement sales volumes. Turkish sales volumes in the domestic market grew by 27 per cent. Exports of cement and clinker more than doubled with new markets of Africa and the Middle East. Ready-mix concrete volumes rose by 47 per cent compared to 2019. Overall revenue totalled ... |
Tabuk Cement sees profits rise 113% in 202008 March 2021, Published under Cement NewsSaudi Arabia’s Tabuk Cement has seen its net profit surge 113.2 per cent to SAR51.58m (US$13.75m) in 2020, compared with SAR24.19m in the previous year. The increase in profit was driven by a rise in sales and other revenues, alongside a drop in the cost of sales, selling and marketing and financing expenses. Revenues also advanced 15.8 per cent YoY to SAR276.45m from SAR238.66m in 2019. |
Southern Cement records sales of SAR1653m in 202008 March 2021, Published under Cement NewsSouthern Cement reported sales in 2020 of SAR1653m (US$440.8m), up 27 per cent YoY due to an increase in sales volume which increased by 24 per cent YoY, while net income for the year was up 32 per cent YoY reaching SAR609m. For 4Q20 Southern Cement reported sales of SAR431m, with an increase of nine per cent YoY and one per cent QoQ, supported by higher total sales volumes, which were up eight per cent YoY but declined by two per cent QoQ to reach 2.1Mt in 4Q20. There was an improv... |
Stock depletion temporarily stops Cimenterie Nationale deliveries05 March 2021, Published under Cement NewsLebanon-based Cimenterie Nationale has announced it will stop deliveries temporarily on 6 March due to the depletion of its stock. According to L’Orient-Le Jour, the cement producer’s decision is the result of the sector’s chaotic management and a lack of a long-term plan. Since the end of October, and after two exceptional exemptions, cement companies no longer have access to their quarries and their activity is limited to grinding and converting previously-extracted rocks into cement. ... |
Southern Province Cement reports 32% profit increase05 March 2021, Published under Cement NewsSaudi Arabia’s Southern Province Cement has reported a 31.5 per cent rise in net profit after zakat and tax to SAR609m (US$162.4m) in 2020, compared with SAR463m in the previous year. The company attributed the increase in net profit to higher sales revenue, a decrease in financing costs and an increase in other miscellaneous revenues, according to a statement. Its revenue also advanced 27.2 per cent YoY to SAR1.65bn from SAR1.3bn in 2019. |
City Cement announces 16% increase in net profit02 March 2021, Published under Cement NewsSaudi Arabia’s City Cement has seen a 16 per cent YoY increase in net profit to SAR220.5m (US$58.8m) in 2020, compared with SAR190.1m a year earlier. The company’s revenue also rose 7.7 per cent YoY to SAR572.3m. The rise in annual profit was mainly due to higher sales value and volumes, alongside lower Zakat and general and administrative expenses, according to a bourse disclosure. |