Cement News tagged under: Middle East
Yamama Cement posts 7% YoY fall in revenue in 202314 February 2024, Published under Cement NewsSaudi Arabia's Yamama Cement Co has announced revenue of SAR935.19m (US$249.38m) for 2023, down 7.23 per cent on the SAR1008.1m seen in the previous year. Operational profit was down 17.93 per cent from SAR333.13m in 2022 to SAR263.55m in 2023. Net profit over the same period has declined 14.49 per cent from SAR355.79m to SAR304.25m. Profit per share also fell, down from SAR1.76 and SAR1.5. The downturn in revenue and profit has been attributed to a low volume and value of sales as loca... |
Sinoma wins Yamama Cement new line project08 February 2024, Published under Cement NewsSinoma has been awarded the Yamama Cement production line upgrade contract. According to Saudi media, the contract is for a full-scale upgrade of the cement production line, aiming to increase its capacity to 12,500tpd. Building upon the relocation of the existing 10,000tpd cement production line, this project aims to achieve technological innovation and capacity enhancement. Sinoma Overseas is entrusted with the comprehensive engineering design, procurement and supply of new equipment,... |
Misr Cement appoint new CEO and MD07 February 2024, Published under Cement NewsMr Hassan Gabry has been appointed the new CEO, managing director and member of the Board of Directors at Misr Cement Group , effective from February 2024. Mr Gabry brings over 30 years of distinguished professional experience in commercial operations and business functions, with a significant focus on the cement industry spanning approximately 20 years. He has held key leadership and executive roles in major multinational companies across various continents. With his extensive backg... |
RAK White Cement posts AED20.5m profit in 202306 February 2024, Published under Cement NewsRas Al Khaimah Co for White Cement and Construction Materials has reported a net profit of AED20.54m in 2023, down 2.6 per cent from AED21.08m in 2022. Sales increased 3.3 per cent to AED255.89m in 2023 from AED247.66m in 2022. Basic earnings per share remained unchanged at AED0.04/share at 31 December 2023. |
Yamama Cement starts kiln inlet installation23 January 2024, Published under Cement NewsThe first steel column of the kiln inlet at Yamama Cement ’s 12,500tpd project in Saudi Arabia was successfully installed on 18 January 2024, 13 days ahead of schedule. Sonoma Overseas Development Co Ltd is the engineering procurement and construction supplier for the project. The column, following the traction of the crawler crane, slowly descended and seamlessly placed itself to the preset position. With the “first shot” fired, the project officially kicked off its steel constructio... |
Iranian cement market expands 11% in 202322 January 2024, Published under Cement NewsIranian cement consumption increased by seven per cent YoY to 5.51Mt in December 2023, according to the Iranian cement association. This follows a 54.8 per cent increase in November 2023 when demand reached 6.61Mt from a low 4.27Mt in November 2022. Clinker production slipped by 0.6 per cent YoY to 6.25Mt, but cement output increased by 10.6 per cent YoY to 6.18Mt in December 2023. Clinker production had edged up 4.8 per cent YoY to 6.96Mt in November 2023 while cement production was up 11... |
Red Sea crisis on Pakistan’s cement industry18 January 2024, Published under Cement NewsPakistan closely monitors the Red Sea crisis as it could disturb the movement of cement export cargoes to the USA and Europe as well as affect coal imports at Pakistani ports. It is also feared that any trade re-route would spark new inflation and supply chain disruption worldwide and in Pakistan. IMS Research, in a situation review report, warned that escalating tensions in the Middle East have begun to exert a notable influence on global trade, with Yemeni Houthi actions targeting commerc... |
Southern Province appoints new chairman and deputy18 January 2024, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has appointed Saad Bin Abdulaziz Alkroud as chairman of the Board of Directors. Mansour bin Abdulaziz Al Saghir was named as vice chairman and Saudi Al Burgan as secretary of the Board of Directors. |
Redecam wins ESP to baghouse conversion project17 January 2024, Published under Cement NewsArabian Cement Co is converting its electrostatic precipitators to state-of-the-art bag filters for dust emissions control. The Egyptian cement producer has joined forces with Redecam Group SpA to achieve dust emission levels below 5mg/Nm 3. ACC is collaborating with the Egyptian Environmental Pollution Abatement Program (EPAP), furthering its commitment to sustainability. This initiative goes beyond mere compliance with dust emissions standards to actively reduce emissions. |
IFC invests US$130m in Iraq's Al Douh Cement15 January 2024, Published under Cement NewsIFC is investing in Al-Douh Iraqi Company for Cement Industries (part of Al-Riyadh Investment Companies Group) to help boost economic diversification and improve sustainable growth in Iraq. IFC is providing a financing package of up to US$130m in long-term debt to Al-Douh. The financing will enable Al-Douh to expand its cement production capacity by 1.9Mta to reach overall production of approximately 3Mt of cement by the end of 2025. Of the total financing provided, up to US$25m will be... |