Cement News tagged under: Saudi Arabia
Saudi Arabia: sales volume falls 20% in 2M1731 March 2017, Published under Cement NewsCement sales in Saudi Arabia remain weak and see a further downward revision in sector earnings for 2017. In the first two months of 2017, sales volume fell 20.4 per cent on an annual basis, while in 2016, cement dispatches declined 10 per cent YoY (54.8Mt), according to a report by Al Rajhi Capital. "In this context, we show the impact on companies based on our expectations of demand in 2017. With regard to prices, we have already seen prices decline sharply for Central and Western r... |
Gaza receives Saudi Arabian housing aid and Israeli cement24 March 2017, Published under Cement NewsSaudi Arabia has contributed US$80m towards reconstructing Gaza homes destroyed during the 2014 Israeli military bombing, Minister of Housing, Mufeed Hasayneh, said on Thursday. He told a press conference in Gaza that US$40m will be disbursed in cooperation with the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) to 1300 beneficiaries, while US$10m of the remaining US$40m will go toward reconstructing 274 homes in coordination with the United Nations Development Progr... |
Saudi Arabia: Northern Region Cement Co appoints new board top17 March 2017, Published under Cement NewsSaudi Arabia’s Northern Region Cement Co has appointed Sulaiman bin Salim Al-Harbi as the Board's chairman. The board also assigned the role of the deputy chairman to Raed Ibrahaim Al Mudieheem, according to a bourse filing on Wednesday. The company said that the board's new session will start on 16 March and last for three years, ending on 15 March 2020. |
Saudi Cement producers see sales fall 25% in February15 March 2017, Published under Cement NewsSaudi cement producers saw sales fall by 24.9 per cent in February 2017. Cement companies sold 4.09Mt of cement in the second month of the year, down from 5.44Mt in February 2016. Output also decreased by 26 per cent YoY from 5.47Mt to 4.04Mt during the same period while inventories increased to 1.07Mt, up 18.2 per cent YoY from 0.906Mt in February 2016. Yanbu Cement topped cement sales as it reported a volume of 0.474Mt but nevertheless experienced a 21.3 per cent YoY drop from 0.602M... |
Saudi producers unlikely to benefit from export ban08 March 2017, Published under Cement NewsCement makers in Saudi Arabia are unlikely to benefit from the government's decision to lift a ban on exports due to higher tariffs, according to Saudi Cement Chairman, Khaled Al-Rajhi. The sector has suffered from weaker demand and lower government spending on infrastructure. As a result, clinker inventory had risen to record levels by the end of 2016, Mr Al-Rajhi commented in the company’s 2016 annual board report. Last September local cement producers competed for market share amid i... |
Saudi Arabia: Najran shuts down Line 207 March 2017, Published under Cement NewsSaudi Arabia’s Najran Cement Co has suspended production at a 3000tpd clinker line. The temporary shutdown of company’s Line 2 is due to the current conditions in the market. The decline in cement demand has led to an increase in inventories. |
Relocating Yamama Cement20 February 2017, Published under Cement NewsAfter years of planning, Yamama Cement Company has finally commenced the relocation of its cement manufacturing operations, moving production from inside the capital, Riyadh, to a new location some 80km from the city. As construction at the new site of two state-of-the-art, 10,000tpd clinker lines gets underway, ICR provides this update on the largest cement project now underway in the Middle East. By ICR Research, UK. The impressive, new Yamama Cement factory, equipped with two 10,00... |
Saudi Arabia: Southern Province reports 48% fall in 4Q profits17 February 2017, Published under Cement NewsSouthern Province Cement reported a decline of 48 per cent in its profits for the fourth quarter of 2016. Profits in 4Q16 fell to SAR156m (US$41.6m) from SAR300m in 4Q15. Southern Province Cement is part of a trend that sees Saudi cement producers report a considerable drop in sales due to a signficant reduction in construction activity in 2016. Infrastructure spending in Saudi Arabia has sharply dropped in 2016 and total cement consumption in 2016 reached 55.3Mt, a far cry from its 2015... |
Saudi Arabia: Najran Cement receives export licence17 February 2017, Published under Cement NewsNajran Cement obtained an export licence from the Saudi Ministry of Commerce and Investment. The licence was received on 15 February 2017 and is valid for one year, according to the company’s statement to the Tadawul, the Saudi stock exchange. |
Saudi Arabian cement sales down 16% in January15 February 2017, Published under Cement NewsDomestic cement deliveries in Saudi Arabia in January 2017 were 15.9 per cent lower than in the same month the previous year, according to statistics released by Yamama Cement. At 4.78Mt, cement sales in the country were significantly below the January 2016 figure of 5.68Mt. Meanwhile, Saudi producers continue to amass clinker stocks, adding another 0.4Mt to their reserves in January. Clinker stocks now amount to 28.5Mt – enough to supply more than six months of Saudi cement demand at ... |