Cement News tagged under: Saudi Arabia
Saudi producers' 2Q net profit drops16 July 2015, Published under Cement NewsSaudi Cement reportedly dropped an 11.8 per cent in net profit for 2Q15 to SAR254m, from SAR288m in 2Q14. It attributed the fall in net profit to lower local sales without elaborating. Another Saudi producer, Najran Cement made net earnings of SAR77.8m in the second quarter ended 30 June, falling 7.77 per cent from SAR84.3m in the year-earlier period. The profit decline was mainly attributable to the increase in selling and distribution (cement transportation incentives), general and ad... |
Hail Cement 2Q15 net earnings down 28%14 July 2015, Published under Cement NewsSaudi-based Hail Cement reported net earnings of SAR28.6m during the second quarter of 2015, down 38 per cent compared with SAR46m in the comparative period of last year. Net earnings for the first half of 2015 also slipped 18.44 per cent YoY from SAR81m to SAR66m. The profit decline was attributed by the company to an increase in direct costs due to a decrease in production volume and an increase in maintenance costs because of shutdown. |
Yanbu 2Q earnings rise to SAR246m06 July 2015, Published under Cement NewsSaudi producer Yanbu Cement Co (YCC) posted SAR246m (US$66m) in net earnings for the second quarter of 2015, rising 2.07 per cent compared with SAR241m in the same period a year earlier. The six-month earnings rose 1.57 per cent YoY from SAR446m to SAR453m. |
Saudi clinker production declines30 June 2015, Published under Cement NewsClinker output in Saudi declined by 12 per cent YoY in May 2015 in producers deliberately attempt to shore up cement prices, claims a report by NCB Capital. Stockpiles had built up partly as a result of decrees by the late King Abdullah to ensure the country did not run out of supplies. In April 2013, the king also set aside US$800m for the import of volumes and construction of kilns to boost supplies. However, new regulations introduced later in the year to reduce the number of illegal for... |
China National Building Materials (CNBM)29 June 2015, Published under Cement NewsProduction is due to get underway in December this year at Southern Province Cement’s second Bishah line, as supplied by China National Building Materials (CNBM). The line has been built at a total cost of SAR713m (US$190m) to help meet growing demand in Saudi Arabia. The Bishah plant currently has a production capacity of 5200tpd, but the new line will add an additional clinker capacity of 5200tpd once up and running. The deal for the new line was signed in 4Q13 and was financed by a com... |
SPCC to launch second production line, Saudi Arabia22 June 2015, Published under Cement NewsSouthern Province Cement Co (SPCC) is likely to launch the second production line at Bishah cement plant in December, said CEO Safar Dhaffir. The 5000tpd line is established by China's CNBM at a total value of US$190m (SAR 713 million), to meet the growing demand for cement in the kingdom. The plant operates currently with a production capacity of 5,200tpd of clinker, OKAZ newspaper reported. |
Saudi's Najran Cement sells SAR400m through an Islamic bond15 June 2015, Published under Cement NewsSaudi Arabia’s Najran Cement has raised SAR400m (US$106.7m) through an Islamic bond of five years duration, it said in a statement on Sunday. The sukuk was privately placed with investors and was priced at 1.4 per cent over the three-month Saudi interbank offered rate (Saibor), the firm said in a stock market filing. In May, Najran Cement said it would issue a riyal-denominated sukuk which will be used to refinance debt and for general purposes. Saudi Fransi Capital, the investment bank... |
Najran to meet investors for riyal sukuk issue08 May 2015, Published under Cement NewsSaudi Arabia-based Najran Cement plans to meet fixed income investors starting on Sunday for a riyal-denominated sukuk issue, the company said yesterday. Najran has appointed Saudi Fransi Capital as sole lead manager, the firm said in stock market filing. Proceeds from the issue will be used to refinance debt and for general corporate purposes. Najran did not provide details of the tenor and size of the issue. |
China National Building Material Co Ltd (CNBM)29 April 2015, Published under Cement NewsArabian Cement Company has appointed CNBM to supply and install two new mills at its cement plant in Rabigh. The contract, which includes all engineering, construction and electrical and mechanical works is reportedly worth US$96.5m. The project is expected to complete in 13 months. In Saudi Arabia, CNBM has already completed first and second line projects for Northern Region Cement Company and is currently undertaking a turnkey project to Southern Province Cement to include a 5000tpd cli... |
Saudi Cement net profit up 6%17 April 2015, Published under Cement NewsSaudi Cement has reported a 5.9 per cent increase in first-quarter net profit on Tuesday as higher exports boosted its earnings. Saudi Arabia's largest cement company by market value said in a bourse filing its net profit for the three months to 31 March was SAR303m (US$80.8m), compared to SAR286m in the corresponding period of 2014. It attributed its net profit rise to increased export sales and higher profit from associated companies. |