Cement News tagged under: Saudi Arabia

RSS feed

Najran launches waste heat recovery operations

01 July 2014, Published under Cement News

Saudi-based producer Najran Cement said launched operations of its waste heat recovery project yesterday. The company successfully completed the performance guarantee tests stated in its contract with Sinoma of China, according to local press reports.

Saudi on course for full demand recovery in 4Q14

23 June 2014, Published under Cement News

Saudi cement sector is currently showing signs of recovery, with demand beginning to return to its normal levels, a new report by NCB Capital reveals. Mohamed Tomalieh, equity research analyst at NCB Capital, said: “The average YoY decline in sales since November 2013 stood at 7.9 per cent but sales in May 2014 increased 3.1 per cent YoY, the first increase since the end of the amnesty period for expats in November 2013. The recent growth supports our view of demand normalising in 3Q14, wi...

Wartsila to supply Umm Al-Qura Cement Co power plant, Saudi Arabia

19 June 2014, Published under Cement News

Wartsila has received an order to supply a turnkey power plant from Saudi-based Umm Al-Qura Cement Co. The contract for the 47MW facility will be located in the mountain desert close to Taif city. The equipment will be delivered by February 2015 on a fast-track basis and will enter commercial operation by October 2015. The power plant will serve a cement factory in extreme conditions of temperatures up to 50°C and an altitude above 1000m. It consists of five 20-cylinder Wartsila 32TS engin...

Saudi Cement recommends dividend

02 June 2014, Published under Cement News

Saudi Cement Co’s board of directors has recommended paying a dividend of SAR3.5 per share for first six months of 2014, the firm said in a bourse filing on Sunday. Shareholders owning the company’s stock at the end of trading on 1 July will qualify for the dividend, which will be paid on 9 July the statement said.? Saudi Cement reported a 16 per cent drop in first quarter 2014 profit which it blamed on  sagging local demand and losses from an associate company.

Al Jouf completes supply agreement

12 May 2014, Published under Cement News

Saudi-Arabia based Al Jouf Cement said in a bourse statement today that it has completed supplying clinker and cement according to the contracts signed with Al-Rajhi Factory in Jordan. The company added that the contract value totals nearly SAR47m (US$12.5m).

Loesche receives Saudi Arabian roller mill order

07 May 2014, Published under Cement News

United Cement Industrial Company (UCIC) has selected a Loesche LM 56.4 raw mill for its cement plant in Al-Sadiya, 150km south of Jeddah, Saudi Arabia. Tianjin Cement Industry Design and Research Institute Co Ltd Tianjin, part of China-based Sinoma International, signed the contract with Loesche for the delivery of a vertical roller mill to the Al-Sadiya plant. Loesche’s order includes the design engineering and supply of the raw mill that will grind cement raw material at a product rate o...

Al Jouf first-quarter earnings drop, Saudi Arabia

23 April 2014, Published under Cement News

Al Jouf Cement posted a drop in earnings of about 40 per cent YoY to SAR15m (US$4m), missing Al-Rajhi Capital’s estimates of SAR 17.8m but exceeding consensus estimate of SAR13m, the research house said in a recent report. Al-Rajhi Capita believes the cement producer’s weak performance was on account of the declining sales volumes given the stiff competition it faces from competitors in the northern region, coupled with the falling demand due to the slowdown in construction activities.

Najran secures finance for waste heat project

21 April 2014, Published under Cement News

Najran Cement has signed a SAR150m Sharia-compliant loan facility with Banque Saudi Fransi, aimed at financing the company’s waste heat recovery project. The loan has a maturity period of five years (April 18, 2014 until December 31, 2019). It will be repaid in six quarterly instalments at SAR25m each, starting from September 30, 2018 until December 31, 2019.

Saudi: Arabian Cement quarterly net profit up 6.2% YoY

18 April 2014, Published under Cement News

Saudi-based Arabian Cement Company (ACC) posted a SAR167.1m (US$44.6m) net profit for the first quarter of 2014, up 6.2 per cent from SAR157.3m a year ago. Earnings per share (EPS) stood at SAR 2.09, compared with SAR1.97.

Saudi Cement: first-quarter net profit declines

15 April 2014, Published under Cement News

Saudi Cement Co posted a 16 per cent decline in net profit for the first three months of this year due to lower domestic demand and losses from an associate company. The Saudi-based cement producer reported a profit of SAR286m (US$76.3m) in the three months to 31 March, down from SAR340m in the corresponding period of 2013, the company said in a bourse statement. The decline was attributed to falling local demand. Saudi Cement said it also had exposure to an associated company’s loss after...