Cement News tagged under: Saudi Arabia
Southern Province signs contract for new line at Bisha works11 November 2013, Published under Cement NewsSouthern Province Cement Co's (SPCC) has signed a contract for the construction of a second production line at its Bisha cement works in Saudi Arabia, the company said in a bourse filing. The new production line will be built by Chinese contractor CNBM at a cost of SAR713m (US$190.1m) and take 20 months to complete. SPC said it will use a combination of Islamic financing and own funds to finance the project. |
Significant rise in Saudi Arabia clinker imports04 November 2013, Published under Cement NewsSaudi cement companies have reported a significant rise in clinker imports over the first three quarters of the year while cement exports decline. Clinker imports totalled 1,925,000t during 9M13 compared to 399,000t in the same period of last year, an increase of 382.4 per cent, according to a report, prepared by Al-Eqtisadiah daily. Some 39,000t of cement was imported over the first nine months of the year. Exports, on the other hand, fell by 55 per cent to 245,000t in the nine months ... |
GCC: returning to form18 October 2013, Published under Cement NewsThis year has marked a broad-based recovery in the construction markets of the Gulf Cooperation Council (GCC) and the region appears to be returning to form, driven particularly by projects in Saudi Arabia and Qatar, as well as emerging signs of recovery in the UAE. A recent report by Global Investment House (GIH) states that the turnaround seen in 2012 is expected to maintain momentum as it sees consumption climbing from 4-5 per cent this year to 6-7 per cent next year due to se... |
Saudi Cement receives funding for expansion04 October 2013, Published under Cement NewsSaudi cement producer Tabuk Cement Company yesterday signed an agreement with local Bank Albilad for Islamic financing worth SAR500m (US$133.3m) In a statement to the bourse, the company said it will use the funds to partially finance the second phase of an expansion project, which includes the construction of a 5000tpd clinker line, and an adjacent power plant and desalination plant. The loan is to be repaid by October 2020. |
Saudi’s Al Jouf signs US$106.7m loan with Al Rajhi Bank01 October 2013, Published under Cement NewsSaudi 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 expansion30 September 2013, Published under Cement NewsSaudi 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 production25 September 2013, Published under Cement NewsNajran 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 continue23 September 2013, Published under Cement NewsCement 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 maintenance20 September 2013, Published under Cement NewsAl 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 Arabia12 September 2013, Published under Cement NewsNajran 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. |