Cement News tagged under: Saudi Arabia

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Yanbu Cement posts 23% rise in revenue

16 July 2021, Published under Cement News

Saudi Arabia’s Yanbu Cement Co has reported a 11.1 per cent YoY fall in net profit to SAR115.23m (US$30.73m) in the first half of 2021, compared to SAR129.56m in the year-ago period. Revenue advanced 23 per cent YoY to SAR535.09m from SAR434.33m in the 1H20. In the second quarter of the year, net profit increased 12 per cent YoY to SAR41.83m while revenue climbed 54.6 per cent to SAR242.69m in the 2Q21.

Umm Al Qura Cement appoints chairman

05 July 2021, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement Co has appointed Abdullah Abdulaziz Suleiman Alabdulatif as its chairman. The board also appointed Saud Mahamed Ali Al Sabhan as vice-chairman, according to a bourse filing. The board also approved the formation of the Remuneration and Nominations committees, the appointment of representatives before the Capital Market Authority and the Saudi Stock Exchange (Tadawul).

Saudi Cement announces new board member

02 July 2021, Published under Cement News

Saudi Cement Co has announced the resignation of board member Mohammad Sulaiman Balghonaim and the appointment of Mansour Mohammed Balghonaim as a member of the board to complete the term of his predecessor for the remainder of the current term, which ends on 31 December 2021. Mr Balghonaim has around 16 years of experience in banking and currently serves as head of Business Development for Wholesale Banking at the Gulf International Bank.

Southern Province Cement announces new 10,000tpd line

03 June 2021, Published under Cement News

Saudi Arabia’s Southern Province Cement has announced a new 10,000tpd production line at its Jizan cement plant in the south of the country. The project will replace the plant’s current production lines, with construction expected to begin in the second half of 2021.

Arabian Cement sees 49% surge in profit

10 May 2021, Published under Cement News

Saudi Arabia’s Arabian Cement Co has seen a 48.5 per cent YoY surge in net profit to SAR67m (US$17.87m) in the first quarter of 2021, up from SAR45.1m in the 1Q20. Sales increased 57 per cent YoY to SAR321.5m from SAR204.6m, or up 10.5 per cent QoQ from SAR290.8m. Net income also advanced 25.7 per cent QoQ from SAR53.3m.

Saudi Arabian producers report 15% decline in net profit

07 May 2021, Published under Cement News

Saudi Arabian producers listed in the main market saw an estimated 15 per cent decline in total net profits to SAR892.5m (US$237.9m) in the first quarter of 2021, compared to around SAR1.05bn in the year-ago period, according to Al Eqtisadiah. Four companies reported growth during the quarter, while the remaining 10 saw a decline. Najran Cement recorded the highest growth in net profit at 51.4 per cent, followed by Arabian Cement Co (+48.6 per cent) and Al Jouf Cement (+15.4 per cent). Ho...

FLSmidth to upgrade Arabian Cement's Rabigh plant in 4Q21

30 April 2021, Published under Cement News

FLSmidth is to deliver a large efficiency upgrade at Arabian Cement Co’s site in Rabigh, Saudi Arabia. The order includes new DDX top cyclones, a quenching chamber and an ABC™ Cooler Inlet. Installation and commissioning is expected to be during the 4Q21.   "The Saudi Arabian cement market is highly competitive with increasing demand, we are therefore constantly looking at ways to improve the efficiency at our Rabigh site," explains Dr Badr Osama Johar, CEO at Arabian Cement Co. "With ...

Arabian Cement faces mill project delay at Rabigh plant

23 April 2021, Published under Cement News

Arabian Cement Co said its new cement mill project at the Rabigh plant has been delayed by 150 days and will now be completed in the 4Q21. The delay was due to contractor China National Building Materials Corp being unable to travel to Saudi Arabia to complete the installation and commissioning work because of coronavirus travel restrictions.

Yanbu Cement sees revenue increase 5%

23 April 2021, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 5.4 per cent rise in revenue to SAR292.4m (US$77.97m) for the first quarter of 2021, compared to SAR277.4m in the year-ago period. However, the company’s net profit declined 20.4 per cent YoY to SAR73.39m from SAR92.23m in the 1Q20. Despite the increase in revenues due to improved sales, a decline in the average selling price and the accompanying increase in the cost of sales led to the fall in net profit.

Yamama Cement to move 10,000tpd kiln line to new site

21 April 2021, Published under Cement News

Yamama Cement Co’s board of directors decided, in a meeting on 19 April 2021, to transfer and install the No 7 line from the company’s old production site in the south of Riyadh to the new plant location in Northern Halal in Al-Kharj governorate of the Riyadh region. The company said in a bourse statement that this comes in line with Saudi Arabia’s Vision 2030 to keep pace with development projects. The production capacity of the line is 10,000tpd. Therefore, by the end of 2024, t...