Cement News tagged under: Saudi Arabia

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Yanbu 2Q earnings rise to SAR246m

06 July 2015, Published under Cement News

Saudi 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 declines

30 June 2015, Published under Cement News

Clinker 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 News

Production 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 Arabia

22 June 2015, Published under Cement News

Southern 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 bond

15 June 2015, Published under Cement News

Saudi 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 issue

08 May 2015, Published under Cement News

Saudi 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 News

Arabian 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 News

Saudi 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.

CNBM signs turnkey contract with Arabian Cement Co for 10,000tpd plant

10 April 2015, Published under Cement News

CNBM International Engineering Co Ltd has signed a turnkey contract with Arabian Cement Co for a 10,000tpd clinker line in Jeddah, Saudi Arabia. It is the largest order signed by CNBM Engineering in international cement engineering markets, the company said in a statement. At the contract signing, the CEO of Arabian Cement Company (ACC) said that he believed CNBM’s Engineering mode “CNBM Plus” would bring the best project quality and a rapid return on investment. Zhang Liao, General Manage...

Saudi cement sales see annual gains

09 April 2015, Published under Cement News

Saudi cement sales for the month of February 2015 were 6.5 per cent higher than in February 2013 and 9.7 per cent higher than February 2014 when the market was impacted by a labour shortage caused by a government immigration crackdown, according to new research from NCB Capital. Sales were 3.3 per cent lower than in January 2015, but this was due to the shorter working month. NCB Capital said the increase was led by smaller players in the market like Najran Cement and Aljouf, who are co...