Cement News tagged under: Saudi Arabia
Yanbu Cement Co 4Q15 net profit up 8.3% YoY11 January 2016, Published under Cement NewsSaudi producer Yanbu Cement Co posted 8.3 per cent YoY growth in net profit to SAR209m (US$55.6m) for the fourth quarter of 2015, up from SAR193m in the prior-year period. The cement producer attributed the profit rise in the 4Q15 to an increase in sales. Meanwhile, the full-year net profit rose 0.50 per cent to SAR806m from SAR802m a year ago. |
Saudi Arabia: Qassim Cement Co 4Q net rises 4.6%08 January 2016, Published under Cement NewsQassim 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. |
Estanda completes ball mill renovation in Saudi07 January 2016, Published under Cement NewsEstanda has successfully completed the commissioning of a two-compartment cement ball mill for a cement producer in Saudi Arabia. The project was carried out on Cement Mill 2 (with a diameter of 5m), operating in parallel with the Cement Mill 1 (CM1), which had previously been renovated and updated by Estanda in 2013. The renovation of CM2 affected all the interior steel components of the mill involved in the grinding process: inlet headwall liners, lifting liners of first ball mill chamb... |
Saudi Cement shuts down two kilns30 December 2015, Published under Cement NewsSaudi Cement Co has closed down two kilns indefinitely as a result of high inventory, absence of growth in Saudi demand and the continuing ban on exports, it said in a bourse statement on Wednesday. The company reported an impairment charge of SAR66.2m (US$17.6m) in the fourth quarter of 2015 as a result of the kiln closures. Furthermore, Saudi Cement Co expects the fuel and electricity price hikes announced in the 2016 government budget to increase its production costs by SAR68m (US$18.13... |
Saudi: Al Jouf Cement signs financing agreement with Alinma Bank16 December 2015, Published under Cement NewsAl Jouf Cement has signed a Murabaha financing agreement with Alinma Bank at a total value of SAR350m. The financing period extends from 15 December 2015 until 14 December 2022, with a grace period of two years, the cement producer said in a bourse statement. The facility, secured against a promissory note, is aimed at rolling over the company's outstanding loans and financing some of the current projects. Al Jouf's second production line will help repay this loan, the statement added |
Hail Cement Co to halt kiln line for annual maintenance, Saudi Arabia10 December 2015, Published under Cement NewsHail Cement Co said it will shut down its production line for the annual maintenance of the kiln and raw mill for the period 8-19 December. The relevant impact will appear in the financial statements of the fourth quarter of 2015, while the cement mill and packing line will be in operation. Accordingly, the company's commitment towards its customers will not be impacted. |
China National Building Materials (CNBM)01 December 2015, Published under Cement NewsChina National Building Materials (CNBM) has received an order from Arabian Cement Company (ACC) for a new grinding plant complete with two Loesche 63.3+3 vertical roller grinding mills with a table diameter of 6.3m and main drive size of 7400kW. The plant, being constructed in Rabigh, Saudi Arabia, will have a clinker production capacity of 10,000tpd. The project will be undertaken on a ‘Fast-Track Concept’ basis with a schedule – from the point at which the contract takes effect to the ... |
Saudi: Southern Province Cement commercial operations from new line01 December 2015, Published under Cement NewsSouthern Province Cement launched on Monday the commercial operations at the third line of its Tihama plant, with a clinker production capacity of 5000tpd, the company said in a statement to Tadawul. The Saudi cement producer aims to increase the plant’s capacity to 15,000tpd. Accordingly, the total capacity of the company’s three plants reaches nearly 28,000tpd. |
Saudi considering lifting export curbs on cement30 November 2015, Published under Cement NewsSaudi Arabia is considering lifting partial export bans on cement and steel to relieve oversupply in the local market, economic news website al-Eqtisadiah quoted a customs department official as saying on Sunday. Reuters reported that Saudi government bodies are studying whether to ease restrictions on cement and steel exports after local production doubled, exceeding the storage capacity of the kingdom's largest companies, customs department spokesman Essa al-Essa told Eqtisadiah without g... |
Tabuk Cement continues trial run on second production line30 November 2015, Published under Cement NewsTabuk Cement said trial operations are still proceeding at Line 2 at its plant in Saudi Arabia. Commercial operations are expected to start in the third quarter of 2016, the cement producer said in a bourse statement on Sunday. |