Cement News tagged under: Saudi Arabia
Southern Province Cement starts trial operations of new line25 March 2015, Published under Cement NewsSouthern Province Cement (SPC) on Monday launched trial operations of a third production line at its plant in Tuhama, Saudi Arabia, the company said in a bourse filing. Without disclosing any financial details, SPC said the new production line will have a daily capacity of 5000t. The trial period will last about four months. |
Saudi calls for lift of export ban to supply Egypt19 March 2015, Published under Cement NewsSaudi Arabia’s cement producers have again asked the government to lift a three-year-old ban on their exports so they can supply Egypt with 6Mt of cement, according to Jihad Al-Rasheed, chairman of the national cement committee in the council of Saudi chambers of commerce and industry. “We are ready to export 6Mt of our cement surplus to Egypt following the signing of large contracts between that country and global companies this week,” Mr Al-Rasheed told the Saudi Arabic language daily Al... |
Qassim Cement approves dividend, Saudi Arabia09 March 2015, Published under Cement NewsSaudi cement producer Qassim Cement Co (QCC) approved at a general meeting on Sunday a cash dividend payment of SAR270m (US$72m), or SAR 3 per share, for the second half of 2014. The total dividend for 2014 stands at SAR6/share, or SAR540m, as QCC has already paid a dividend of SAR270m for the first half of 2014. The company booked a net profit of SAR563.6m for the 12 months to December 2014, a decrease from SAR585m a year earlier. |
Yanbu Cement Co signs contract for WHR plant05 March 2015, Published under Cement NewsYanbu Cement Company (YCC), one of Saudi Arabia’s leading cement companies and a major player in the western region of the kingdom, has signed a contract for the establishment of a 34MW waste heat recovery (WHR) power plant at its cement plant located north of Yanbu town. Sinoma Energy Conservation Ltd of China will set up the WHR plant at a cost of US$61.8m. The agreement was signed in YCC's head office in Jeddah yesterday. Raouf Abuzinadah, managing director of Yanbu Cement Company,... |
Listed Saudi firms see 3.8% increase in 2014 sales02 March 2015, Published under Cement NewsSales of the listed cement firms in Saudi Arabia grew by 3.8 per cent to hit SAR13.5bn (US$3.6bn) in 2014 compared to SAR13bn in 2013, according to a report published by Al-Hayat daily said. Net profits rose by 6.10 per cent in the year to SAR6.2bn compared to SAR5.83bn in the previous year, the report added. Meanwhile, the National Committee for Cement Companies (NCCC) said the volume of demand on cement is poised to grow by four per cent to reach SAR59.5Mt in the current year compared to... |
Eastern Province Cement names new chairman, deputy chairman17 February 2015, Published under Cement NewsSaudi-based producer Eastern Province Cement Co (EPC) approved at a meeting on Sunday the appointment of Turki bin Fahd as board chairman. The company also named Abdul Mohsen al-Ruwaishid as deputy board chairman. In a separate statement on Monday, the cement manufacturer announced a 21 per cent YoY increase in net profit to SAR374m (US$99.7m) last year attributed to higher ready-mix concrete sales. |
Saudi full-year output update13 February 2015, Published under Cement NewsSaudi Arabia, the largest cement producer in the GCC, produced over 57Mt of cement in 2014, according to a report in Arab News. Demand in the kingdom continues to grow fuelled by huge mega projects including include railways, airports, stadiums, medical cities, utilities, and petrochemical facilities. Saudi Arabia is the largest cement producer in the GCC with 63Mta, accounting for 50 per cent of the region’s capacity. In 2014 it imported 2.5Mt of compared to 4.9Mt in 2013, according to d... |
Saudi firms’ net profit up 6% YoY30 January 2015, Published under Cement NewsThe net profit of the Saudi cement firms has registered an increase by six per cent in 2014, reaching US$1.56bn compared with US$1.48bn recorded in 2013, Arab News reported. Profit during the final quarter of 2014 increased by 31 per cent to US$382.86m compared with US$292.46m, during the same period in the previous year, In 2014, seven of the 14 listed companies grew, six companies saw profits drop while Um Al-Qura Company, registered losses in the year. Arabian Cement Company (ACC) reg... |
Al Jouf net profit advances 11.6% in 201429 January 2015, Published under Cement NewsSaudi-based Al Jouf Cement recorded a net profit of SAR60.4m (US$16.1m) for 2014, up from SAR54.1m in 2013, the company said in a statement to the Saudi Stock Exchange. The increase was attributed to lower cost of sales and general and marketing expenses, according to the company. Earnings per share (EPS) stood at SAR 0.46 in 2014, versus SAR0.42 a year ago. Operating profit rose to SAR72.5m, up 16 per cent YoY on the year and the gross profit came in at SAR103.5m, up from SAR97m. ... |
Saudi: Al Jouf Cement's 4Q14 profit surges22 January 2015, Published under Cement NewsAl Jouf Cement Co posted a SAR20.7m (US$5.51m) net profit for the fourth quarter of 2014, with an increase by 160.49 per cent YoY from SAR7.9m and 141.26 per cent QoQ from SAR8.6m. Meanwhile, FY14 net profit amounted to SAR60.4m, with a rise by 11.69 per cent from SAR54.1m a year earlier. The company attributed the profit rise to higher sales and lower cost of sales. |