Cement News tagged under: Saudi Arabia

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Saudi’s Al Jouf signs US$106.7m loan with Al Rajhi Bank

01 October 2013, Published under Cement News

Saudi cement producer and trader Al Jouf Cement has signed an agreement with the country’s largest Islamic bank Al Rajhi Bank for a SAR400m (US$106.7m) loan to partially finance the construction of a second production line. The loan is to be repaid by June 2019. At present, the company has a production capacity of 1.75Mta.

Saudi cement market records further volume expansion

30 September 2013, Published under Cement News

Saudi cement companies saw profits rise 8.2 per cent as cement demand in the kingdom continued to expand on the back of large projects, said Global Research in its June 2013 report. Cement demand in the 1Q13 stood at 15.5Mt compared to 14Mt in the same period last year. Saudi Cement and Southern Province Cement lead the sales volume rankings, resulting in market shares of 15.7 and 13 per cent, respectively. Cement output rose 16.3 per cent to 13.1Mt while clinker production increased 9...

Najran Cement's Line 3 begins production

25 September 2013, Published under Cement News

Najran Cement has said that commercial production of its third production line has started. The Saudi-based cement producer said output was launched on 21 September 2013. The new production line has a clinker capacity of 6500tpd. Najran Cement floated on the Saudi stock exchange in April 2012, raising US$226.5m to fund construction of the third line. However, earlier this month the company said that it had been refused permission from Saudi’s Ministry of Petroleum and Resources to supply t...

Saudi: strong growth expected to continue

23 September 2013, Published under Cement News

Cement sales in Saudi Arabia are expected to rise by 8.2 per cent this year and rise at a CAGR of 6.3 per cent, a recent report by NCB Capital forecasts. However, concerns are raised on capacity constraints and pressures on margins as local producers import clinker to meet booming demand.  “We continue to expect a strong demand outlook for cement in Saudi Arabia in the coming few years. This is mainly due to the ongoing and new mega projects announced by the government, coupled with an in...

Al Jouf undertakes unscheduled kiln maintenance

20 September 2013, Published under Cement News

Al Jouf Cement has temporarily halted its production line for unscheduled maintenance until 5 October, the Saudi-based company said in a statement to the bourse. Al Jouf Cement said that the shutdown will cost SAR18m (USD 4.8m/EUR 3.5m), but will not impact its ability to meet contractual obligations to clients. The company also stopped production in the last two weeks of June for unscheduled maintenance.

Najran completes Line 2 maintenance, Saudi Arabia

12 September 2013, Published under Cement News

Najran Cement has successfully completed maintenance and resumed operations of Kiln Line 2. The completion was extended by four days to 10 September to link line No 2 to a waste heat recovery plant currently being built by Sinoma Energy Conservation. The US$45m WHR project will have a power generation capacity of 27.1MW and will completed in March 2014.

Tabuk Cement first-half net profit edges ahead

10 September 2013, Published under Cement News

Saudi-based producer Tabuk Cement reported a net profit of SAR107m (US$28.5m) for the first half of 2013, up 1.04 per cent from the SAR105.9m in the same period of the year before. The company attributed the rise to cost rationalisation, but did not disclose any exact figures. Earnings per share stood at SAR1.19 almost unchanged SAR1.18m. The company’s operating profit declined to SAR105.5m in January-June 2013, compared with SAR108.9m in the same period of last year.

Al Jouf Cement appoints director general, Saudi Arabia

10 September 2013, Published under Cement News

Al Jouf Cement has appointed Eissa Baissa as director general, effective 15 September 2013. Prior to joining Al Jouf, Baissa was general manager of one the cement companies operating in Saudi Arabia, Al-Jouf said without disclosing the name. Al-Saleh has a Bachelor Degree in mining engineering from King Abdullah University of Science and Technology, and a Ph.D. in business administration from University of Atlanta, Georgia, USA.

Najran to connect WHR unit, Saudi Arabia

09 September 2013, Published under Cement News

Najran Cement has extended the maintenance period of line No 2 so it can connect the production line to its waste heat recovery (WHR) plant currently under construction, the company said in a bourse statement yesterday. The maintenance was scheduled to be completed by 6 September but the company decided to extend it to 10 September 2013 to link production line 2 to the WHR power plant currently being carried out by China's Sinoma Energy Conservation. The US$45m WHR project, to be complet...

Eastern Province Cement first-half net profit falls, Saudi Arabia

04 September 2013, Published under Cement News

Saudi cement producer Eastern Province Cement Company (EPCC) reported a 9.7 per cent reduction in first-half 2013 net profit due to lower sales, higher production costs and maintainance work carried out during the second quarter. EPCC, which operates 3.2Mta of cement capacity from two cement plants, said net profit fell to SAR187m (US$49.9m) compared to SAR207m a year ago. Earnings per share (EPS) stood at SAR 2.17, compared with SAR 2.41. Operating profit in the six months to the end o...