Cement News tagged under: Qassim Cement Co

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Qassim Cement Co plans 30MW solar power plant

04 January 2022, Published under Cement News

Saudi Arabia's Qassim Cement Co will mandate a consulting firm to help with the preparations for a 30MW solar plant at its site in Buraydah city. Qassim Cement produces about 4Mta of cement. The company will invest SAR152m (US$40.53m) to build a cement mill at its plant in Buraydah with a capacity of 300tph.

Qassim Cement announces 10,000tpd new line

13 August 2021, Published under Cement News

Qassim Cement Co has announced a new 10,000tpd production line at its plant in Buraydah, Saudi Arabia, that will replace some of the current production lines. The project execution is expected to start in the 1H22, the cement producer reported. The cost of the project will be announced after completing studies. The project's financing options, and expected completion date, financial impact as well as production date will be announced in due course, the company added.

Export licence for Qassim Cement

02 September 2020, Published under Cement News

Qassim 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.

Qassim Cement sees net profit treble in 2019

03 February 2020, Published under Cement News

Saudi Arabia-based Qassim Cement Co reported a 83.7 per cent increase in revenue to SAR781.9m (US$208.5m) in 2019 from SAR425.7m in 2018. The company net profit after zakat and tax nearly trebled to SAR360.7m in 2019. In 2018 it was SAR120.8m. The company attributes the improvements to a rise in sales and an increase in average selling price.

Qassim Cement reports 52% decline in net profit

29 January 2019, Published under Cement News

Saudi Arabia’s Qassim Cement Co has reported a 52 per cent fall in net profit to SAR120.8m (US$32.21m) in 2018, compared to SAR251.8m of the previous year. Sales for the year also declined 32 per cent YoY to SAR425.7m from SAR625.9m. The net profit results have been attributed to a decrease in sales volume and value, driven by a lower demand of cement and intense competition, according to Reuters.

Qassim Cement receives export licence

06 April 2018, Published under Cement News

Qassim Cement Co has received a one-year export licence from Saudi Arabia’s Ministry of Commerce and Investment, said the company in a bourse filing. Saudi Arabia cancelled cement export duties from 1 February 2018. In March Yanbu Cement announced it will begin cement and clinker exports this month following the agreement to export 1Mt of clinker and 0.5Mt of cement.

Qassim Cement Co reports 53% drop in 2Q profit

18 July 2017, Published under Cement News

Qassim Cement Co reported a 53.29 per cent YoY decline in 2Q17 net profit, while the drop on a QoQ basis was 33.63 per cent, according to a bourse filing. Profits totalled SAR53.2m (US$14.2m) in 2Q17 compared to SAR113.9m for the same period last year, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Monday. The contraction was in part attributed to lower domestic demand. The reduction compared to the first quarter was due to a decrease in cement prices, in addit...

Saudi Arabia: Qassim Cement Co 4Q net rises 4.6%

08 January 2016, Published under Cement News

Qassim Cement Co recorded net earnings of SAR141m (US$37.5m) during the fourth quarter of 2015, a rise of 4.6 per cent from SAR134m in the year-ago period. Full-year net earnings increased four per cent YoY from SAR564m to SAR586m. The cement producer attributed the profit growth to higher sales volume and value, as well as low general and administrative expenses.