Cement News tagged under: Saudi Arabia
Eastern Province net profit rises 4.8% YoY20 May 2013, Published under Cement NewsEastern Province Cement Company (EPCC) posted a 4.8 per cent rise in net profit for the first quarter of 2013, which the company attributed the increase to a better performance at one of its affiliate companies. For the first three months to the end of March 2013, net profit rose to SAR109m (US$ 29.1m) compared to SAR104m in the same period a year earlier. Earnings per share (EPS) stood at SAR 1.27, compared with SAR 1.21. Operating profit, however, fell to SAR104m for the first three ... |
Saudi Arabian port authorities prepared for cement imports20 May 2013, Published under Cement NewsThe Saudi Arabian Ports Authority (PA) has said the kingdom’s commercial ports are prepared to receive cement and clinker shipments following King Abdullah's directive to import 10Mt to end the current supply shortages. PA spokesperson Abdul Rahman Aldrais said the authority has allocated 17 docking stations, with four each in Jeddah, Dammam and Jubail and one in Yanbu, Dhuba and Jazan. He added that the authority has allocated sufficient storage space to temporarily store and handle cement... |
Najran Cement awards new line to Chinese contractor, Saudi Arabia15 May 2013, Published under Cement NewsSaudi cement producer Najran Cement has awarded a contract for the installation and maintenance of a third production line to Chinese firm CEIC. The new production line will have a capacity of 7000tpd and is expected to begin trial operations in 3Q13, the company said in a bourse filing. Najran Cement operates a cement plant situated in Sultana which has two clinker lines of 6000tpd and 3000tpd each. |
Saudi Cement Co signs contract with Sinoma for kiln upgrades14 May 2013, Published under Cement NewsSaudi Cement Co has announced that it has signed a contract with Sinoma Technology & Equipment Group Co to rehabilitate and restart kiln lines 4 and 5 at its Hofuf factory. Under the deal worth US$19.9m, the Saudi-Arabia based cement producer said it had signed the contract with Sinoma, adding that the work would be "fully financed through the company's own resources." The project is expected to start immediately and will be completed by the end of the year. |
Saudi cement producers urged to maintain reserve supplies02 May 2013, Published under Cement NewsThe government of Saudi Arabia is urging cement companies to maintain a strategic stockpile of cement to prevent future shortages. A directive to this effect was issued by the Commerce and Industry Minister Tawfiq Al-Rabiah, according to local press reports. Each company has has been asked to build up a strategic reserve (equaling a company’s two-month output) in addition to regular market supplies. Companies may face punitive action if they failed to adhere to the latest directives, the... |
Saudi Cement to rehabilitate two kiln lines, Saudi Arabia25 April 2013, Published under Cement NewsSaudi Cement Company’s board of directors has announced that the cement producer is to rehabilitate and re-operate Kilns 4 & 5 in Hofuf factory with a total designed capacity of 3000tpd of clinker. Operations are expected to resume during the fourth quarter of 2013. The company said it will announce further details of this project following the signing of the contract with the project contractor. |
Eastern Province Cement Co net profit rises 4.8% YoY22 April 2013, Published under Cement NewsEastern Province Cement Co has announced a 4.8 per cent YoY rise in net profit to SAR109m (US$29m) in 1Q13 compared to SAR104m in the same period of last year. The increase is attributed to the improved results of an associated company and increases in other incomes. Compared to the previous quarter, net profit rose 2.8 per cent from SAR106m in 4Q12 attributed to increases sales and a decrease in general administrate expenses. |
Saudi orders cement imports to meet shortages17 April 2013, Published under Cement NewsKing Abdullah of Saudi Arabia has ordered 10Mt of cement to be imported into the kingdom to meet cement shortages and the construction of more cement plants over the medium-term is also being encouraged. Citing trade minister Tawfiq al-Rabiah, the Saudi Press Agency, reports that King Abdullah wants three to four cement plants to be built over the next three years and has granted SAR3bn towards the scheme. The Saudi cement industry has quickly grown to support high consumption and i... |
Saudi Cement net profit rises on improved efficiency16 April 2013, Published under Cement NewsSaudi Cement Company said net profit in the first quarter of 2013 rose 4.5 per cent YoY, attributed to an increase in output thanks to improved operating efficiency. Net profit for the three months ending 31 March 2013 reached SAR340.3m (US$90.6m), compared to SAR325.6m posted in the same period of last year. The increase was also a 22.5 per cent rise on the SR277.7m recorded in the previous quarter, the company said in a filing to the Saudi bourse. The QoQ advance was attributed to in... |
Yamama Cement 3Q net profit remains flat YoY10 April 2013, Published under Cement NewsSaudi cement producer Yamama Cement Company said yesterday that according to preliminary results, its net profit stood at SAR277m (US$73.9m) for the first quarter of 2013, almost unchanged from SAR278m a year ago due to lower prices. The earnings per share remained stable at SAR1.37. Gross profit declined to SAR293m from SAR300m. |