Cement News tagged under: Middle East
Emirates RDF set to begin production28 September 2020, Published under Cement NewsEmirates RDF, a partnership between leading water treatment expert Besi, Griffin Refineries and Tech Group Eco, has announced that it is set to start the production of alternative fuel at its facility in Umm Al Quwain, UAE. The household waste collected will be converted into RDF and used as a fuel in cement factories. Once operational from 1 October, Emirates RDF will able to handle over 1000t of waste from the emirates of Ajman and Umm Al Quwain. |
Egypt's cement sector sees a 60% fall in cement demand25 September 2020, Published under Cement NewsThe cement industry in Egypt is expected to come under heightened strain following a 60 per cent decline in cement demand for the first time in the sector's history, says Professor Mohamed Saleh of the Toulouse School of Economics . During the 1H20 Arabian Cement Co reported losses of about EGP5.6m (US$0.3m), the Sinai Cement company recorded losses of EGP245.6m (US$15.6m), while Tourah Cement company suspended production altogether due to a financial crisis caused by the oversupply ... |
Iran exports 5.84Mt of cement in five months22 September 2020, Published under Cement NewsIran has exported more than 5.84Mt of cement worth US$127.99m during the first five months of the current Iranian calendar year (20 March-21 August 2020), according to data from the Islamic Republic of Iran Customs Administration (IRICA). Iraq, Kuwait and Afghanistan were the top importers of cement from Iran during the period. As recently announced, the production of major construction industry materials is more than double the country's demand. "In this area [the construction industr... |
Gulf Cement receives approval to withdraw from Boursa Kuwait14 September 2020, Published under Cement NewsUAE-based Gulf Cement Co, once dually listed on Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), has obtained approval from Kuwait’s Capital Markets Authority to withdraw from the former. The last day for the trading of the company's shares on Boursa Kuwait will be on Monday, 14 December 2020, according to the company's disclosure to the ADX. |
Saudi cement sales rise 38% to 4.3Mt in August 202008 September 2020, Published under Cement NewsThe aggregate sales of 17 Saudi cement producers climbed 38 per cent to 4.3Mt in August 2020, compared to 3.1Mt in the same month last year, reported Yamama Cement Co. As many as 16 cement producers reported higher sales, headed by Al-Jouf Cement Co with a YoY rise of 131 per cent in August. Al-Safwa Cement Co was close behind with an increase of 116 per cent YoY. Northern Region Cement Co's sales dropped by 32 per cent YoY. Seven companies exported 144,000t of cement in August. Saudi C... |
Tourah Cement loss contracts 67% in 1H2007 September 2020, Published under Cement NewsTourah Cement reported a 67 per cent fall in net losses to EGP-151.97m (US$-9.6m) in the 1H20 when compared with EGP461.25m reported in the 1H19, according to Mubasher. However, sales dropped to EGP83.8m between January-June 2020 from EGP473.2m in the year-ago period, according to a bourse disclosure on Sunday. |
Suez Cement consolidated losses increase in 1H2007 September 2020, Published under Cement NewsEgypt-based Suez Cement sales decreased to EGP2.7bn (US$170.9m) during the January-June 2020 period, down from EGP3.3bn in the 1H19. The company’s consolidated financial statements also showed a 99 per cent YoY increase in its net losses to EGP-709.31m in the 1H20, compared to EGP-356.49m. Standalone losses amounted to EGP-463.3m from EGP590.5m in the year-ago period. |
Export licence for Qassim Cement02 September 2020, Published under Cement NewsQassim Cement Co has been awarded a licence to export cement by Saudi Arabia’s Ministry of Commerce and Investment. The licence is effective for one year, according to a bourse statement. In the 2Q20 the cement producer posted net earnings of SAR85.47m (US$27.8m), up 21.3 per cent YoY. |
Algeria exports 6000t of cement to Lebanon02 September 2020, Published under Cement NewsA vessel with 6000t of cement left the port of Djen Djen, Algeria, yesterday, heading for Beirut, Lebanon. Minister of Industry, Ferhat Aït Ali, and Minister of Solidarity, Kaoutar Krikou, were present during the departure. In a statement to the press, the two ministers focused on "the spirit of solidarity which animates the Algerian people towards the brotherly Lebanese people in this difficult circumstance that this country is going through". According to the same declaration, other acti... |
City Cement shareholders agree on 26% capital cut27 August 2020, Published under Cement NewsShareholders of Saudi-based City Cement Co have approved a 26 per cent capital cut to SAR1.4bn (US$8.34m) from SAR1.89bn, on having a capital surplus, during the extraordinary general meeting held on 25 August 2020, the company said. The capital will be decreased as the company has excess capital. The capital reduction will be financed from the company's internal resources. However, the cement producer signed Islamic loan agreements with Saudi British Bank and Riyad Bank at a total value o... |