Cement News tagged under: Saudi Arabia
Loesche receives Saudi Arabian roller mill order07 May 2014, Published under Cement NewsUnited 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 Arabia23 April 2014, Published under Cement NewsAl 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 project21 April 2014, Published under Cement NewsNajran 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% YoY18 April 2014, Published under Cement NewsSaudi-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 declines15 April 2014, Published under Cement NewsSaudi 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... |
Qassim Cement 1Q14 net profit declines09 April 2014, Published under Cement NewsQassim Cement Company reported net profits amounting to SAR159m (US$42.4m) in the first quarter of 2014, down 5.59 per cent for the same period of the last year. In a statement issued today, the Saudi-based company said that dividends per share amounted to SAR1.77 compared to SAR1.87 for the same period of the last year. |
Umm Al Qura set to raise US$73m via float09 April 2014, Published under Cement NewsUmm Al Qura Cement is to raise over SAR275m (US$73m) in cash by selling 27.5m shares at SAR10 each via a flotation on Saudi Arabia's stockmarket, Tadawul. The shares are expected to be floated by the new Riyadh-based cement supplier at the end of April, and a prospectus will be published in advance. Saudi Arabia's Minister of Commerce and Industry Dr Tawfiq bin Fawzzah Al-Rabiah said that half of the shares will be sold to the general public, with the rest retained by the project's partn... |
Saudi Arabia's cement industry looks forward to good times07 April 2014, Published under Cement NewsSaudi Arabia's cement companies are preparing for long-term cement demand growth as they expand their capacity. However, for some such as Yanbu Cement, the past quarter has seen earnings contract. NBK Capital raised Yamama Cement’s share value from SAR52.50 (US$14.00) to SAR54.42. Several new megaprojects are scheduled to come online, which are expected to drive longer-term cement demand. In addition, cement demand had been heavily focussed towards the Western Region in the past two years... |
Recent orders for Cemengal in Saudi Arabia and Mauritania03 April 2014, Published under Cement NewsCemengal has received a second order from a Saudi Arabian client for the supply of its Plug&Grind® (P&G) process technology. It has also received two orders for the system in Mauritania. The P&G units are complete cement grinding and packing stations based on a ball mill grinding facility. They are assembled in Spain with European components and compacted into eight or nine standard containters making it easier to transport. The P&G system has the capacity to produce 100,000tpa of OPC. |
ABB upgrades Eastern Province Cement Co's process control system, Saudi Arabia28 March 2014, Published under Cement NewsABB has recently completed an extensive upgrade of the Extended Automation System 800xA to the latest standards at Eastern Province Cement Co’s (EPCC) three production lines at its Al Khursaniya works in Saudi Arabia. With outdated hardware and software potentially impacting the plant’s reliability and to avoid unexpected shutdowns and improve functionality of the cement production lines, EPCC decided to optimise its process control system. The scope of supply included the evolution of Ext... |