Cement News tagged under: Saudi Arabia

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Increased sales drive Yanbu Cement’s net profit higher

31 January 2012, Published under Cement News

Yanbu 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 output

30 January 2012, Published under Cement News

Concerns 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 2013

24 January 2012, Published under Cement News

Cement 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....

Al Jouf awards contract for Line No 2, Saudi Arabia

23 January 2012, Published under Cement News

Saudi cement producer, Al Jouf Cement, has awarded China’s Chengdu Design & Research Institute the contract for the construction of a second production line with a capacity of 5000tpd. The contract value is SAR885m (US$236m). The project is to be financed with a combination of Al Jouf’s own funds and debt and is scheduled to take 25 months to complete.

Saudi Cement 4Q11 up on higher demand

17 January 2012, Published under Cement News

Saudi Cement Co posted a 39.7 per cent rise in its 4Q11 net profit, on higher production and demand. Net profit for the quarter reached SAR212.3m (US$56.6m) compared to SAR152m in the same period a year earlier. "The rise in the yearly and fourth quarter net profit compared to the same period a year earlier is due to the rise in production capabilities from new lines... in addition to local demand growth during the period," the company said. Fourth quarter operating profit increased 39....

Eastern Province net profit rises 6% per cent, Saudi Arabia

17 January 2012, Published under Cement News

Eastern Province Cement of Saudi Arabia registered a 2011 net profit of SAR364m (US$97.1m), up six per cent YoY from SAR343m in 2010, attributed to higher sales and lower cost of sales. Earnings per share were SAR4.23 versus SAR3.99. Fourth quarter net profit increased by an impressive 27.7 per cent to SAR106m from SAR83m in the same period a year ago. Source: Middle East and Africa News

Ministry steps in to curb escalating Saudi prices

12 January 2012, Published under Cement News

Saudi Arabia’s Ministry of Commerce and Industry has intervened to curb a significant rise in cement prices in the western region of the country, Al Eqtisadiah business daily reports. At least 14 people involved in the alleged price fixing have been arrested following raids conducted at the start of this year by ministry inspection teams. A total of 10 trucks were also seized during raids on cement sales outlets in Jeddah and other parts of the region which were carried out in cooperation...