Cement News tagged under: Saudi Arabia

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Yamama Cement 1H net profit rises 22%, Saudi Arabia

14 September 2012, Published under Cement News

Saudi cement producer Yamama Cement Company reported a 22 per cent YoY rise in its net profit to SAR487m (US$129.8m) for the first half of 2012, up from SAR400m a year ago. The increase was attributed to a rise in sales as a result of higher local demand, Yamama Cement said without giving exact figures. Gross profit SAR526m from SAR429m.

Qassim Cement to add new line, Saudi Arabia

13 September 2012, Published under Cement News

The management board of Saudi cement producer Qassim Cement Co (QCC) approved at a meeting on Monday the installation of a new production line with a daily production capacity of 5500t. The company said the move is in line with its efforts to meet growing demand. (Source: SeeNews Middle East & Africa).

GCC profits rise 27.1 per cent in 1H12

06 September 2012, Published under Cement News

Profits of the Gulf Cooperation Council (GCC) cement sector increased 27.1 per cent YoY in the first half of 2012 to US$971.5m from US$764m in the same period of 2011, the latest report from Global Investment House (GIH) shows. According to the report, the GCC cement sector grew 17 per cent in the first six months of the year mainly due to a huge pipeline of projects in Saudi Arabia helping to generate significant demand. Oman was in second place with growth of 13.8 per cent while Qatar a...

Improved outlook for Omani cement companies

29 August 2012, Published under Cement News

Oman cement companies are set for brighter times ahead as inflows of cheap cement from the UAE decline and demand picks up both in the UAE and the sultanate, according to a report by Global Investment House (GIH). In its GCC cement sector report released on Tuesday, GIH said that Omani cement firms are set for steady growth in the coming quarters as growth in the construction sector leads to a higher cement demand.  “The inflow of cheap cement from UAE, which earlier roughly catered to...

Najran Cement CEO resigns

15 August 2012, Published under Cement News

Saudi cement producer Najran Cement said in a bourse filing yesterday that Ahmad Zuqeil had resigned from the position of CEO, effective August 31, according to reports by SeeNews Middle East and Africa. Najran Cement is currently working on an expansion project which will boost its annual production capacity to 5000t of cement. Completion is scheduled for the third quarter of 2013. Najran Cement booked a net profit of SAR107.2m (US$28.6m) for the first half of 2012, down from SAR146.4m in...

Middle East market developments

13 August 2012, Published under Cement News

Cement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine...

Saudi Cement increases output

07 August 2012, Published under Cement News

Saudi Cement Company announced that it has restarted Kiln No 6 on Monday which has a capacity of 35000tpd and an actual capacity that could reach a maximum of 4000tpd of clinker. Production from this kiln will be used to increase the company’s clinker inventory to meet demand, the company said in a statement on its website.

Southern Province cement signs deal with Wärtsila, Saudi Arabia

03 August 2012, Published under Cement News

Saudi Arabia’s Southern Province Cement Company has signed a US$26m contract with a Finnish power firm that will allow it to expand its power plant in Jazan, located in the south of the country. Southern Province's chairman, HH prince Abdullah bin Mosa'ad bin Abdulrahman Al- Saud, signed the contract with Wartsilla Power Contracting Co of Finland yesterday. The deal will see four diesel-powered units added to its plant in Jazan, which will increase its capacity by 32MW.

Hail Cement widens loss, Saudi Arabia

18 July 2012, Published under Cement News

Saudi Arabia-based cement company Hail Cement has increased its losses in the second quarter of 2012 to US$2.29m, up by 36 per cent from the US$1.68m it lost in the first quarter. The loss is attributed to the pre-operating stage it is currently undergoing with operations due to begin in the first quarter of 2013. For the first six months of this year, the company’s net loss was US$3.97m. (Source: Middle East North Africa Financial Network).

Southern Province Cement second-quarter profit rises, Saudi Arabia

17 July 2012, Published under Cement News

Southern Province Cement (SPC) posted a 9.6 per cent increase in second quarter profit, Reuters reports. SPC achieved a net profit of US$69.86m during the quarter, up from US$63.6m a year earlier. Revenue rose 6.77 per cent to US$71.6m compared to US$67m in 2Q11. The company attributed the increase in profits to the start of a second line at its Tuhama plant which started commercial production in March, as well as increased demand from local markets. In May this year, SPC signed a c...