Cement News tagged under: Saudi Arabia
Qassim net profit up 10 per cent YoY16 February 2012, Published under Cement NewsQassim Cement’s full year 2011 net profit grew approximately 10% to SAR553m, according to a statement on the stock exchange website. The board is proposing a cash dividend distribution of SAR3.5/share for 2H11, which would bring total FY11 dividend payments to SAR5.75/share. |
Saudi Arabia stops cement exports14 February 2012, Published under Cement NewsSaudi Arabia has stopped cement and clinker exports to prevent shortages and to stabilise domestic prices. The kingdom’s western region, which includes the Red Sea port city of Jeddah and the Islamic holy cities of Mecca and Medina, has suffered a cement shortage as the government increased spending for infrastructure. Prices for new homes in Jeddah rose as much as 10% this month because of the higher cost of cement, local paper al-Eqtisadiah reported. Cement makers outside the weste... |
Saudi Cement Company re-opens its Kiln No 614 February 2012, Published under Cement NewsSaudi Cement Company will start up its Kiln No 6 with 4000tpd clinker capacity by May 2012 after it has completed most of the rehabilitation works. The kiln’s environmental aspects will be checked and it will be converted to use crude oil rather than gas, as per Saudi Aramco’s directions. The company will also bring three older kilns back into operation during the same period, so that an extra 5325tpd capacity will be available to meet Saudi Arabia’s rising cement demand, which has led to ... |
Saudi Arabia: Eastern Province net profit up 6% YoY14 February 2012, Published under Cement NewsFor the year ending 31 December 2011, Eastern Province Cement Co announced that its net profit was SAR364m (US$97m), compared to SAR343m (US$91.4m) for the same period of the previous year, an increase of 6%. The rise in the net profit was due to a decrease in the cost of sales and to the enhancement of the operational efficiency of production lines as well as the rationalisation of some production cost items. Earnings per share were SAR4.23, compared to SAR3.99 YoY. Gross profit was reco... |
Saudi Arabia: short-term solution to cement shortage13 February 2012, Published under Cement NewsThe acute cement shortage in Makkah province might be on its way to be solved with the daily injection of 10,000t of cement (200,000 bags) into the region, sources at the Ministry of Commerce and Industry (MCI) said on Sunday. However, talking to Arab News, Saleem Al-Harbi, chairman of Manar Construction Company and a member of the board of directors of Jeddah Chamber of Commerce and Industry, did not believe that these quantities would be enough to stabilise the cement market in the ... |
Saudi cement output rises 23% in January13 February 2012, Published under Cement NewsCement production in Saudi arabia, the Arab world’s largest economy, grew 23% in January from the same month a year earlier. Production from 13 companies rose to 4.8Mt last month from 3.9Mt in January 2011, according to industry data posted on the website of Yamamah Saudi Cement Co. |
Saudi Cement in talks to sell extra clinker supplies06 February 2012, Published under Cement NewsSaudi Cement has said that due to the rising demand for cement in the Kingdom, it has started negotiating with a number of local producers for the sale of excess quantities of clinker. The company announced that since 4 February it has been in talks to sell as much as 600,000t of extra clinker supplies as local producers are benefiting from increased government spending. |
Increased sales drive Yanbu Cement’s net profit higher31 January 2012, Published under Cement NewsYanbu Cement reported a 23 per cent rise in 2011 net profit to SAR529m (US$141.1m) due to an increase in sales. The Saudi Arabian producer added in a bourse filing that earnings per share were SAR5.04, up from SAR4.1. |
Aramco offers enough fuel for Saudi Arabia cement to raise output30 January 2012, Published under Cement NewsConcerns that ongoing fuel issues with Saudi Arabian Oil Co (Aramco) will delay increases in domestic cement capacity are being allayed by an Aramco representative. O kaz newspaper reported an unidentified Aramco official as saying that the company is providing enough oil and natural gas to cement companies for them to raise production by 16 per cent from current levels, A recent report by NCB Capital had said ongoing fuel issues with Aramco could delay the 4.5Mta of new capacity e... |
GCC cement sector capacity to hit 120Mt by 201324 January 2012, Published under Cement NewsCement capacity in the GCC cement sector is expected to hit 120.7Mt in 2013, according to a Global Investment House (GIH) report with rising demand in Saudi Arabia, Qatar and Kuwait expected to take pressure off the oversupply situation. Saudi Arabia is driving the capacity gains as the country continues to outperform the region. Volumes are expected to reach 58Mta in 2013 and demand is expected to be on a par as new projects across all sectors emerge due to increased government spending.... |