Cement News tagged under: UAE

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Gulf Cement receives approval to withdraw from Boursa Kuwait

14 September 2020, Published under Cement News

UAE-based Gulf Cement Co, once dually listed on Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), has obtained approval from Kuwait’s Capital Markets Authority to withdraw from the former. The last day for the trading of the company's shares on Boursa Kuwait will be on Monday, 14 December 2020, according to the company's disclosure to the ADX.

Abdelaziz Assad named acting CEO Arkan Building Materials

02 September 2020, Published under Cement News

UAE-based Arkan Building Materials has appointed Abdelaziz Asad as acting CEO following the departure of Abdellatif Sfaxi to pursue other career opportunities. Under the new arrangement, Mr Sfaxi will continue to work closely with Mr Asad for the next three months to ensure a smooth transition. Arkan Chairman, Engineer Jamal Salem Al Dhaheri, said: "On behalf of Arkan’s board, I would like to thank Sfaxi for his 12 years of service to the company. During his tenure as CEO he has reinforced...

Arkan Building Materials sees profits decline to AED2.1m in 1H20

11 August 2020, Published under Cement News

Arkan Building Materials reported 1H20 profits declining to AED2.1m (US$571,818) as construction activity became disrupted in UAE due to the pandemic. Last year the company reported profits in 1H19 of AED 33.7m, boosted by the sale of Emirates Cement Factory. Revenue this year has reached AED387.4m, down from AED458.8m last year. Cement revenues fell to AED196.5m from AED282.7m last year, while cement-led profit amounted to AED7.91m, down from AED45.69m. Concrete block and dry mortar revenu...

New waste treatment plant to supply RDF in UAE

14 July 2020, Published under Cement News

The construction of a solid waste treatment plant in Umm Al Qaiwain, UAE, is nearing completion. One operational, the facility will process waste from the nearby region and supply RDF to cement plants. The AED132m (US$36m) unit is expected to process 1500t of waste every day to produce 300,000tpa of alternative fuel, according to Dr Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment. The plant is expected to begin operations in the final quarter of 2020.

Sharjah Cement reports net loss in 1Q20

09 June 2020, Published under Cement News

UAE-based Sharjah Cement has reported a net loss of AED9.3m (US$2.5m) in the first quarter of 2020, compared to an AED802,000 net profit in the corresponding period of last year. The company’s consolidated revenue also fell 16.3 per cent YoY to AED128.16m from AED153.1m in the 1Q19. 

Gulf Cement records net loss in 1Q20

14 May 2020, Published under Cement News

UAE-based Gulf Cement has posted a net loss of AED28.9m (US$7.87m) in the first quarter of 2020, compared to an AED1.5m profit in the corresponding period of last year. Revenues also declined 32 per cent YoY to AED88.26m from AED130.06m. The company has also reportedly seen an investment loss of AED4.6m in the first three months of the year, compared to an investment income of AED260,207 in the 1Q19.

Arkan sees 14% decrease in net profit for 1Q20

04 May 2020, Published under Cement News

UAE-based Arkan Building Materials has seen a 13.8 per cent fall in net profit to AED10.53m (US$2.87m) during the first quarter of 2020, compared to AED12.21m in the year-ago period. Total revenues decreased 11.4 per cent YoY to AED208.17m from AED234.99m. "The challenging construction market has not been helped by the emergence of COVID-19, towards the end of the first quarter," said the chairman of Arkan, Jamal Salem Al Dhaheri. "The increase in operating profit is due to a better pe...

Celebrating industry excellence

02 April 2020, Published under Cement News

Cemtech Middle East and Africa 2020 welcomed delegates from over 35 nations to the Grand Hyatt Dubai, UAE, on 16-19 February. The conference and exhibition offered a comprehensive overview of the regional cement industry and gave attendees the opportunity to network with cement producers and international industry specialists. The conference opened with a discussion of the GCC cement markets and global prospects The 15th Cemtech MEA conference and exhibition was successfully hel...

China: outward bound

23 March 2020, Published under Cement News

China’s Belt and Road Initiative (BRI) is now an integral part of the country’s overseas expansion policy. Since its inception in 2013, the BRI has been one of the essential vehicles driving the global spread of Chinese technology and providing a platform for corporate cement and construction giants to enter new markets. ICR takes a look at the initiative’s progress to date and the impact on China’s cement industry, as its shifts from its purely domestic production base to establishing its p...

Shree Cement operates largest kiln in the world

03 March 2020, Published under Cement News

Shree Cement has increased kiln capacity to 14,500tpd following improvements at its Ras Al Khaimah plant in the UAE, making it the world’s largest operational kiln. The kiln surpasses the previous record-holder, ACC’s Wadi II plant in Karnataka, India, by 2000tpd. Shree Cement’s current installed capacity is 41.9Mta. In 2018 the company acquired Union Cement with its Ras Al Khaimah plant. The production facility has four kiln lines, but only one is currently active.