Cement News tagged under: Qatar

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Qatar National Cement reports dip in sales in 1Q24

24 April 2024, Published under Cement News

Qatar National Cement Co has reported sales of QAR106.06m (US$29.14m) in the first quarter of 2024, ended 31 March. This compares to QAR127.95m in the same period a year earlier. Net income came in at QAR51.37m, down from the QAR64.1m seen in the opening quarter of 2023.  Basic earnings per share from continuing operations stood at QAR0.08 in the 1Q24, compared to QAR0.10 in the year-ago period, reports Market Screener. 

Prospects for the GCC industry

19 February 2024, Published under Cement News

The Gulf Cooperation Council (GCC) economy has come under pressure from falling oil revenues, but economic diversification is paying off. Moving into 2024, cement market growth is expected across the region, headed by construction projects in Saudi Arabia and UAE, but cement overcapacity continues to overshadow the production base. The GCC cement markets of Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain are poised for growth in 2024, lead by residential and commercial activ...

Qatar cement market to expand 5.2% in 2022-32

27 November 2023, Published under Cement News

The cement market in Qatar is expected to see a CAGR of 5.2 per cent on the basis of value in 2022-32, reaching a valuation of US$1550.9m by the end of the period. According to Future Market Insights, the advance in demand is being attributed to the country’s rising population and urbanisation, which has prompted increased demand for residential buildings, in particular, along with commercial buildings. The residential and commercial buildings segment in Qatar is forecast to see a CAGR of 5....

Qatar market to expand by a CAGR of 5% in 2022-32

05 October 2023, Published under Cement News

The Qatar cement market is expected to see a CAGR of 5.2 per cent in terms of value between 2022-32, reaching US$1550.9m by the end of the period. Much of this growth is being driven by the country’s rising population, fuelling growth in urbanisation. Qatar is seeing not only rising demand for residential and commercial buildings, but also civic and tourism infrastructure, according to a report by Future Market Insights. Government initiatives over the past five years have resulted in...

Qatar National Cement signs digital and Uzbekistan MoUs

30 May 2023, Published under Cement News

Qatar National Cement Co (QNCC) has made a strategic decision to partner SAP and Google Cloud to fuel its digital transformation and ensure future-proof operations.   Eng Essa Mohammed Ali A M Kaldari, QNCC CEO, emphasised the significance of this transformation: "Our aim is to modernise and streamline our systems, increase efficiencies, and enhance the services we deliver to our customers and employees. After implementation, our operations will be more agile and scalable, ena...

GCC cement: set for a revival?

13 February 2023, Published under Cement News

With oil prices expected to remain elevated, GCC governments are easing their budgets and restarting construction projects. For cement producers this is good news and the sector prepares for its revival as demand for its products is forecast to show significant growth in the short- to medium term. By U Capital Research, Oman. After challenging times due to economic restrictions, caused by the COVID-19 pandemic and low oil prices, the GCC cement sector can now look forward to better...

QNCC and Gord sign MoU on low-carbon products

21 September 2022, Published under Cement News

The Qatar National Cement Company (QNCC) and Gulf Organisation for Research & Development (Gord) have signed a Memorandum of Understanding (MoU) pledging to improve efforts at promoting a more sustainable built environment, reports the Gulf Times. Under the agreement, the partners will collaborate on research, development and innovation (RDI) projects in the field of green/low-carbon building products. Apart from RDI activities, the organisations will also lead capacity building and kno...

Qatar National Cement sees 38% rise in sales

09 April 2021, Published under Cement News

Qatar National Cement has reported a 38.4 per cent YoY rise in sales to QAR229.85m (US$63.14m) for the first quarter of 2021, compared to QAR166.1m in the year-ago period. Net profit for the quarter also advanced 29.3 per cent YoY to QAR70.42m from QAR54.44m in the 1Q20.

Qatar National Cement Co sees net profit down 14%

28 January 2021, Published under Cement News

Qatar National Cement Co has seen a 6.2 per cent YoY fall in sales to QAR659.62m (US$181.2m) in 2020, against QAR703.03m in the previous year. Net profit also declined 13.8 per cent YoY to QAR148.46m from QAR172.16m in 2019.

Cement production rises in Qatar

20 November 2020, Published under Cement News

Qatar’s Industrial Production Index for September 2020 declined 7.7 per cent YoY and 3.9 per cent compared to August 2020, according to the Planning and Statistics Authority. The production of cement and other non-metallic mineral products rose 9.1 per cent MoM in September. On an annual basis, production also advanced 3.1 per cent during the month.