Cement News tagged under: United Arab Emirates

RSS feed

Middle East: diversification is key

22 November 2021, Published under Cement News

Following years of conflict, the potential for cement demand in the Middle East is huge. Add to this the drive by governments to develop and expand various industries to reduce their reliance on oil and gas revenues. Meeting this demand, however, requires investment at a time when state revenues have plummeted and the region is facing escalating humanitarian crises. Global oil prices declined by more than 50 per cent in March 2020 as lockdown measures grounded international flights ...

Ras Al Khaimah slips into the red in 1Q

01 June 2020, Published under Cement News

In its unaudited first-quarter results, Ras Al Khaimah Cement Co reported a 26 per cent drop in sales to AED36.838m (US$10.031m) in the first quarter of 2020 ended 31 March when compared with the equivalent period of the previous year, when sales reached AED49.774m. The company posted a gross loss of AED3.808m, against a gross profit of AED4.241m in the 1Q19 while net loss reached AED8.01m. In the 1Q19 Ras Al Khaimah Cement achieved a net profit of AED2.162m.

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.

GCC: a return of fortunes?

17 February 2020, Published under Cement News

The performance of the GCC cement sector improved significantly in 2019 when compared with the previous year as higher domestic consumption combined with increased export demand. For 2020, the outlook remains equally promising, supported by expansionary budgets and the normalisation of relations between GCC countries. Most of the GCC countries, including Oman, announced expansionary budgets, fuelling expectations of increased construction activity going forward GCC cement sec...

Gulf Cement narrows loss

13 February 2020, Published under Cement News

UAE-based Gulf Cement reported a fall in revenues to AED443.6m (US$120.8m) in 2019, down from AED475.7m in 2018. This represents a YoY drop of 6.7 per cent. The company’s loss narrowed from AED33m in 2018 to AED26.8m. Gulf Cement operates a 2.7Mta integrated cement plant in Khor Khuir, Ras Al Khaimah. It has a clinker capacity of 3.8Mta.

Rock solid contribution

12 November 2019, Published under Cement News

With limestone, dolomite and gabbro deposits totalling a combined production of over 80Mta and reserves of over 4.5bnt, Stevin Rock is a key global producer of crushed rock. Its quarries in the United Arab Emirates (UAE) supply in a sustainable way a wide range of products to a multitude of customers across the world. By Stevin Rock, UAE. Stevin Rock’s Khor Khuwair quarry has a production capacity of over 60Mta Together with its sister company RAK Rock, Stevin Rock is one of the...

Gulf Cement Co sees fall in profit in 2018

20 February 2019, Published under Cement News

UAE-based Gulf Cement Co reported revenues of AED475.707m (US$129.5m) in 2018, according to the company’s preliminary results. This represents an 18.4 per cent drop from AED583.203m the previous year. The company’s net operating profit of AED24.360m in 2017 declined to a loss of AED49.072m in 2018 while net profit fell from AED40.613m to a loss of AED32.99m over the same period.

RAK Cements profit falls to AED13m

14 February 2019, Published under Cement News

Ras Al Khaimah Co for White Cement and Construction Materials has posted a 57 per cent drop in net profit to AED13m (US$3.5m) in 2018. The company’s revenues fell from AED767.92m in 2017 to AED755.22m one year later while total assets declined to AED1.03bn in 2018 versus AED1.102bn the previous year.

Fujairah sees stable revenues but profit slip in 2018

11 February 2019, Published under Cement News

Fujairah Cement Industries reported largely stable revenues in 2018 at AED614.559m (US$167.3m) when compared with AED620.825m in 2017. Net operating profits were down 18 per cent to AED118.384m from AED143.498m from the previous year. For the fourth quarter of 2018, the company saw a three per cent decline in total operating revenues to AED151.893m when compared with the 4Q17 when revenues reached AED156.538m. Net operating profit during the quarter fell by 23 per cent YoY to AED28.518m.

Gulf Cement 9M profit down

13 November 2018, Published under Cement News

UAE-based Gulf Cement reported a 9.3 per cent fall in revenues in the 9M18 to AED371.7m (US$101.2m) from AED409.8m in the year-ago period. Net profit fell 95 per cent from AED33.1m in the 9M17 to AED1.6m in the first nine months of 2018. The company attributed the decline in its net profit due to rising coal and gas prices. In addition, increased supply to the market resulted in falling selling prices.