Cement News tagged under: Saudi Arabia
Saudi Arabia: Umm AlQura signs deal with Aramco27 July 2016, Published under Cement NewsUmm AlQura Cement has signed an agreement with Aramco to purchase fuel for its new Portland cement production line close to Taif city. According to a statement to the Saudi Stock exchange from Umm AlQura, the company expects trials and commercial production to start in 3Q16. Umm AlQura said that the Saudi Ministry of Energy, Industry and Minerals had previously agreed to supply the fuel on the condition that the company provide a SAR100m (US$26.7m) letter of credit. |
Saudi Arabia: Northern Cement profits fall 24%26 July 2016, Published under Cement NewsNorthern Region Cement Company reported a net profit of SAR48.66m (US$13m) in 2Q16, down 24 per cent from SAR64m (US$17m) compared to the same period last year. However, profits were up 13.4 per cent compared to 1Q16. This QoQ rise is due to increased clinker sales and the YoY decrease is attributed to increased production costs as a result of higher energy prices and falling sales. Northern Cement’s profits for the first half of the year reach SAR91.6m, a 20.4 per cent decline from SAR11... |
Saudi Arabia: sales volumes fall 27%25 July 2016, Published under Cement NewsTotal cement sales in Saudi Arabia declined 27 per cent YoY and 39.6 per cent MoM in June, to 4.1Mt. Cement production in June was 3.66Mt, down 25 per cent YoY and 34.6 per cent MoM. June’s fall in sales volume can be attributed to Ramadan, which fell solely in June this year, unlike last year when it was split across June and July. All cement producers reported a decline in sales during the month. Al Jouf, Saudi and City Cement experienced the lowest declines in sales, with figures falli... |
Saudi Arabia: Najran Cement reports lower 2Q16 profits25 July 2016, Published under Cement NewsNajran Cement in Saudi Arabia has announced lower earnings during the second quarter of 2016, according to a bourse filing. Earnings fell 56.8 per cent YoY to SAR33.6m (US$8.96m) from SAR77.83m due to lower sales volumes. The gains made by an increase in average sales prices and a fall in selling and distribution expenses were offset by a slowdown of building and higher energy prices. In the first half of 2016, Najran Cement earned SAR94.69m, representing a 44.2 per cent decrease YoY f... |
Saudi Arabia: export ban lifted11 July 2016, Published under Cement NewsThe Saudi Arabian government has decided to lift the export ban on cement, which was imposed in 2008 to push down prices and accommodate the demand generated by government-funded infrastructure projects. Once the ban has been lifted potential export destinations will include Qatar, Yemen, Jordan, Bahrain, Egypt, Iraq, east Africa and the UAE. This decision to remove the export ban may help Qatar, a country with major construction projects planned in the run up to Fifa 2022, meet its growi... |
Saudi Arabia: ABB upgrades EPCC production lines01 July 2016, Published under Cement NewsPower and automation technology group, ABB have recently commissioned an electrical infrastructure upgrade for two 30-year old cement production lines at EPCC’s plant in Al Khursaniya, Saudi Arabia. The project consisted of upgrading the plant’s existing 75MV switchgear panels to the latest protection relay generation and integrating the power supply systems with the ABB automation system already in place. EPCC’s decision to modernise its production lines will help avoid unexpected shutdo... |
Saudi Arabia: new power plant for ACC08 June 2016, Published under Cement NewsArabian Cement Company (ACC), Saudi Arabia, has awarded MAN Diesel & Turbo a contract to build a 40MW power plant. The plant will be equipped with two 18V48/60 TS engines and will provide power to a cement factory in Rabigh, on the Red Sea coast. The new power plant will be operated by heavy fuel oil and diesel oil. Construction of the first phase of the plant is scheduled for 2016-17. With the completion of two additional phases, including the installation of a further four engines, t... |
Saudi Arabia: Hail Cement resumes production02 June 2016, Published under Cement NewsHail Cement Company has resumed production after a stoppage for scheduled maintenance. According to the company's statement on the Saudi Stock Exchange Tadawul,” the financial impact of the stoppage will be reflected on the results of the second quarter of 2016. The cement firm previously announced that the production line was going to stop for annual maintenance for the furnace and the cement raw-materials' mill, between 23 and 31 May 2016. |
Saudi Cement to sell 40% stake in Kuwaiti firm26 May 2016, Published under Cement NewsSaudi Cement Company announced signing a contract to sell its entire stake of 40 per cent in Group International Cement Company, a Kuwaiti closed joint stock company. The total value of the contract amounts to KWD1.989m (US$6.58m/SAR 24.7m), the company said in a filing to the Saudi Stock Exchange. "The financial impact will be seen in the company's profits for the 2Q016 as a gain from selling of investment amounting to KWD50,000 after considering exchange rate differences (increase... |
Saudi Arabia: lifting of export ban to provide little cheer for cement producers?18 May 2016, Published under Cement NewsThe much-anticipated lifting of Saudi Arabia's ban on cement exports, first implemented in 2008 and extended in 2012, is expected to provide little relief for the country's cement producers, according to emerging market investment bank Arqaam Capital. Mohammed Kamal, executive director of equity research at Arqaam Capital said that export volumes would likely be capped at 20 per cent of output and potentially subjected to an export tax. The net effect should be margins erosion, which part... |