Cement News tagged under: Saudi Arabia
Cement sales in Saudi Arabia fall 6% in December10 January 2019, Published under Cement NewsAggregate cement sales from 17 producers in Saudi Arabia slipped by six per cent in December to 3.82Mt, compared to 4.08Mt in December 2017, reported Yamama cement. Twelve cement firms recorded lower sales with Northern Province Cement seeing the biggest fall of 51 per cent YoY during the period in review. City Cement's sales declined by 27 per cent while Yanbu Cement and United Cement recorded lower sales as well, both down 26 per cent. Five cement producers bucked the trend, led b... |
Tabuk Cement appoints new general manager09 January 2019, Published under Cement NewsSaudi cement producer Tabuk Cement has appointed a new general manager as of 6 January 2019. Ali Al-Qahtani will succeed Ali Mohmiha Al Asmari, according to a statement to the Tadawul, the Saudi stock exchange. In January-September 2018, the company reported net losses of SAR66.49m, compared with January-September 2017 when net losses reached SAR2.23m. |
New Chairman and Vice Chairman appointments at Saudi Cement02 January 2019, Published under Cement NewsSaudi Cement's Board of Directors have appointed Khalid bin Abdulrahman Saleh Al-Rajhi as a Chairman of the board and Muhammad bin Abdul Karim Al-Khariji as a Vice Chairman in a bourse filing. |
City Cement agrees settlement with Sinoma International18 December 2018, Published under Cement NewsCity Cement of Saudi Arabia has made a settlement with Sinoma International for payment of its second production line. The original contract was signed in June 2012 for a total of SAR970.63m (US$258.8m), but City Cement imposed a delay of eight per cent interest on the contract's final total of SAR43m. City Cement's second production line in Riyadh has a cement capacity of 1.9Mta. The final settlement with Sinoma International will appear on the 4Q18 earnings of City Cement. |
Southern Province Cement to sell 20,000t of cement to Yemen05 December 2018, Published under Cement NewsSouthern Province Cement has signed an agreement to export 20,000t of Portland cement to Yemen. The contract expects to deliver the volume over a three-month period, starting from the date of the first shipment, according to Reuters. |
Hail Cement appoint new chairman and deputy chairman05 December 2018, Published under Cement NewsHail Cement Co's board of directors approved on 3 December the appointment of Ali Othman Al Zaid as the company's new chairman. Meanwhile, the Saudi Arabian cement producer has also appointed Qasem Saleh as the deputy chairman, the cement producer said in a bourse statement. |
Tabuk Cement to export to Yemen26 November 2018, Published under Cement NewsSaudi Arabia’s Tabuk Cement has signed a memorandum of understanding with Yemen to export cement. The company will export 6000t of cement in a three-month deal with the country. Tabuk Cement recently reported that its losses widened 57 per cent YoY in the 3Q17, reaching SAR19.19m (US$5.11m) from SAR12.2m in the year-ago period. In the first nine months of 2018, the company’s net loss grew to SAR66.49m. |
Saudi Engineering Dimensions interested in Bangladesh cement sector23 November 2018, Published under Cement NewsSaudi company Engineering Dimensions has expressed an interest to set up a modern cement factory in the Chhatak upazila of Sunamganj district, Bangladesh, according to New Nation. During a meeting with Secretary-in-Charge of the Industries Ministry, M Abdul Halim, Engineering Dimensions President, Mohammed N Hijji, said Bangladesh’s huge population, domestic demand and skilled workforce have created an opportunity to attract foreign investors such as Saudi Arabia. |
Saudi Arabia's cement sales in October fall 1.8% YoY22 November 2018, Published under Cement NewsSaudi Arabia's cement sales in October, including exports, dropped to 4.03Mt, compared to 4.1Mt in October 2017, a fall of 1.8 per cent YoY. For the first 10 months of the year, cement dispatches slipped to 37.25Mt including exports, compared to 39.96Mt in 10M17, down 5.4per cent, said Al Jazira Capital. Meanwhile, inventories of clinker in the kingdom rose by 19.8 per cent during October 2018 to 41.57Mt YoY. The falling cement demand is largely due to the weaker contract awards in const... |
Deep into the Saudi down-cycle19 November 2018, Published under Cement NewsSaudi Arabia’s cement industry has faced a challenging few years as construction activity decreased following a more cost-conscious government budget. However, while many positive steps have been taken, the sector’s recovery could be protracted. By Pritish Devassy, Al Rajhi Capital, Saudi Arabia. While the Saudi cement industry has faced a challenging few years, the dust appears to be slowly settling with signs of a recovery emerging The largest economy in the Middle East, Sa... |