Cement News tagged under: Saudi Arabia
Eastern Province to launch new mill in 2Q1524 March 2014, Published under Cement NewsEastern Province Cement (EPC) is to launch commercial production at a new cement mill in April 2015. The construction of the grinding unit, with a capacity of 150tph, will be completed in October 2014, officials said yesterday. The equipment at the new facility will be installed over a period of two-and-a-half months, with the trial period to take three months, by end-March 2015. Earlier in March 2014, the cement manufacturer announced a SAR309m (US$82.4m/EUR59.4m) net profit for 2013, down... |
Saudi Cement to retire three kiln lines18 March 2014, Published under Cement NewsSaudi Cement Co (SCC) is to permanently cease of operations of three kiln lines Hofuf plant due to their age, higher operating costs and lower environmental efficiency. The company had restarted Lines 1, 2 and 3 at the Hofuf works at the end of last year due to rising demand and market pressures at the time. However, the decision has now been made to close these kilns and remove them from the plant site. The three kilns have a combined clinker capacity of 1325tpd. |
Saudi sees monthly sales decline12 March 2014, Published under Cement NewsSaudi cement sales declined by three per cent to 4.59Mt in February 2014, compared to 4.74Mt in the same month of last year, local media have reported. Out of the 14 cement companies operating in the kingdom, 10 reported a declining in sales, according to a report prepared by Argaam Business Info. Clinker production, however, jumped by five per cent during the month to 4.07Mt, the report stated. |
Eastern Province full-year profit declines, Saudi Arabia10 March 2014, Published under Cement NewsEastern Province Cement Company (EPC) booked a SAR309m (US$82.4m) net profit for 2013, down from SAR387m a year ago, a decrease of 20.2 per cent YoY. The company attributed the decline to lower sales and higher manufacturing costs as a result of maintenance works. Earnings per share (EPS) stood at SAR 3.59, compared with SAR 4.5. The Saudi-based producer registered an operating profit of SAR298m for the 12 months to December 2013, down from SAR374m a year earlier. |
ACC to construct new kiln line, Saudi Arabia22 February 2014, Published under Cement NewsThe managing board of Arabian Cement Co has agreed to boost production at the company’s Rabigh plant in Saudi Arabia by constructing a new kiln line. The new kiln will add capacity of 10,000tpd and is expected to start operations in mid-2017. (Source: SeeNews Middle East & Africa). |
Saudi sales slowdown continues through Jan14 February 2014, Published under Cement NewsThe slowdown in Saudi Arabian cement sales continued in January 2014, falling short of analysts expectations. Cement deliveries amounted to 4.62Mt in the first month of the year, compared to 4.74Mt the month before, a recent report by NBK Capital has said. Deliveries in November, and to a lesser extent, December 2013 were effected by the expulsion of 2m illegal expatriate labourers by the government which led to the suspension of construction projects and delays in the transportation o... |
Saudi approves licence for new Riyadh plant11 February 2014, Published under Cement NewsSaudi Arabia's minister of commerce and industry, Dr Tawfiq bin Fawzan Al-Rabiah, approved the licence for the establishment of Baha Cement Co, in Riyadh, with a share capital of US$106.7m (SAR400m). According to the Saudi Press Agency, 50 per cent of the company's shares will be held by the project's partners, and the remaining 50 per cent will be offered to the Saudi public. The Minister's approval came within the framework of the state's policy to enhance economic activities in vario... |
Saudi Cement recommends SAR3.5/share for 2H1310 February 2014, Published under Cement NewsSaudi Cement Co said that its board had recommended a cash dividend of SAR3.5/share (US$0.93) for the second half of 2013. This is the same as the dividend paid in the corresponding period of 2012. The company reported an eight per cent fall in fourth quarter profit, which the company blamed on lower sales and rising raw material costs. |
Cemtech Middle East & Africa underway04 February 2014, Published under Cement NewsCemtech Middle East & Africa 2014, the leading international cement conference and exhibition series, has opened in Dubai in front of an audience of over 270 senior industry delegates from 35 countries, including Guest of Honour, His Excellency Sheikh Yaser Al Qasemi, General Manager of Union Cement Company, Ras Al Khaimah, and Chairman of the Cement Producers’ Association of the UAE. Thomas Armstrong, Cemtech organiser, welcomes over 270 industry delegates from across the Middle Eas... |
Al Jouf reports 75% drop in quarterly net profit, Saudi Arabia28 January 2014, Published under Cement NewsAl Jouf Cement posted weak fourth-quarterly financial results, with earnings declining by 74.59 per cent YoY and 16 per cent QoQ to SAR6.1m (US$1.6m). The results missed Al-Rajhi Capital estimates of SAR22m and consensus forecast of SAR20m. Al-Rajhi believes that the company’s weak performance was a result of a decline in the value and volume of sales due to sluggish cement demand during the quarter following government’s initiatives to expel 2m illegal expatriate labourers which led to t... |