Cement News tagged under: UAE

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RAK Cement posts third consecutive quarterly loss, UAE

08 February 2012, Published under Cement News

Ras Al Khaimah Cement Company, based in the UAE, has issued its preliminary results for 4Q11, posting its third consecutive quarterly net loss of AED8.5m (US$2.3m). This brings its full year net loss to AED19.9m (US$5.4m). The results beat estimates by analysts at Global  Investment House (GIH) by 9.7 per cent. GIH believe the net loss was due to decreasing cement sales and lower realization prices.

UltraTech Cement to take control of Star Cement?

07 February 2012, Published under Cement News

UltraTech Cement is looking to purchase its partner’s stake in Star Cement to take full control of the Dubai-based cement producer, sources familiar with the deal have said, adding to the rumour mill that other UAE producers are ripe acquistion targets. "The group has an option to purchase the local partner's stake when they bought the majority control company from Dubai-based ETA Star Group," the Financial Express quoted a source as saying. However, OP Puranmalka, director of UltraTech,...

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....

JK Cement begins construction of UAE cement plant

16 January 2012, Published under Cement News

India’s JK Cement has started construction of a white cement plant in the UAE, the completion of which could make it a top five player in the niche market of white cement. The company’s vice president N. Gowrishankar told Gulf News that the new plant, to be constructed in the emirate of Fujairah, will involve an investment of US$149.7m and a capacity of 0.6Mta of white cement, with the ability to switch operations to 1Mta of grey cement.  The plant is scheduled for commissioning in 2013. ...

Cemtech Middle East & Africa 2012

26 October 2011, Published under Cement News

Cemtech Conferences and Exhibitions successfully concluded its seventh annual Middle East & Africa event over 12-15 February 2012. Returning to the luxury of the Grand Hyatt Hotel, Dubai, UAE, the meeting attracted 250 delegates from over 30 countries, all keen to discuss topics under the theme of “Growth Markets, Technology Advances and Operational Efficiency.” While the North African cement sector has been hard hit by political turmoil over the past year, several oil rich countries in Afr...