Cement News tagged under: Saudi Arabia

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China National Building Materials (CNBM)

02 December 2013, Published under Cement News

China National Building Materials (CNBM) has reported a 37 per cent rise in revenue in 9M13. Total operating revenue stands at US$13.4bn, compared to US$9.8bn in the same period last year. However, total operating costs have also risen, up 41 per cent from US$9bn in 9M12 to US$12.7bn in 9M13. As a result, operating profit has fallen six per cent by US$772m and net profit is down by three per cent at US$789m. Elsewhere, China National Building Material’s Import and Export Corporation (CN...

Saudi October sales rise by 2%

26 November 2013, Published under Cement News

Saudi cement sales rose by two per cent during October 2013 to 4.91Mt compared with 4.13Mt in the same period a year ago. Production for the month reached 4.24Mt compared to 4.22Mt in October 2013, a report, based on data released by Yamamah Cement Co (YCC), said. Clinker production rose by 19 per cent to 4.7Mt against 3.98Mt in the same month the year before. Local deliveries of clinker reached 54,000t in October, which were exclusively made by Northern Region Cement Co. Cement impor...

Southern Province signs contract for new line at Bisha works

11 November 2013, Published under Cement News

Southern 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 imports

04 November 2013, Published under Cement News

Saudi 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 form

18 October 2013, Published under Cement News

This 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 expansion

04 October 2013, Published under Cement News

Saudi 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 Bank

01 October 2013, Published under Cement News

Saudi 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 expansion

30 September 2013, Published under Cement News

Saudi 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 production

25 September 2013, Published under Cement News

Najran 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 continue

23 September 2013, Published under Cement News

Cement 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...