Cement News tagged under: Yamama Cement

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Yamama agrees raising credit facility limit

20 June 2017, Published under Cement News

Yamama Cement announced that it has agreed with the National Commercial Bank (NCB) and Samba Financial Group to raise its sharia-compliant credit facility limit from SAR1bn to SAR3.6bn (US$266.6m to US$960m). The maturity date for the last instalments for these facilities is on 2 January 2025, the company said in a statement to the Saudi Stock Exchange. The new limits will be used to open new letters of credit worth SAR500m, as well as Murabaha facilities at SAR 2.1bn, financial website M...

Relocating Yamama Cement

20 February 2017, Published under Cement News

After years of planning, Yamama Cement Company has finally commenced the relocation of its cement manufacturing operations, moving production from inside the capital, Riyadh, to a new location some 80km from the city. As construction at the new site of two state-of-the-art, 10,000tpd clinker lines gets underway, ICR provides this update on the largest cement project now underway in the Middle East. By ICR Research, UK. The impressive, new Yamama Cement factory, equipped with two 10,00...

Saudi Arabia: Yamama Cement mothballs five clinker lines

26 January 2017, Published under Cement News

In an announcement to the Saudi Arabian stock exchange, Yamama Cement has said that it will temporarily close five clinker production lines with a combined capacity of 5600tpd. The company said that current market market conditions had led to a rise in clinker stocks throughout the sector in Saudi Arabia and for this reason the firm had decided to suspend production at its oldest facilities. 

Saudi Arabia: Yamama Cement secures US$266m for new plant

03 January 2017, Published under Cement News

Saudi Arabia's Yamama Cement Company has secured SAR1bn (US$266.6m) to partially fund the building of a new plant, it said on Monday. The three-year financing includes SAR750m from National Commercial Bank and SAR250m from Samba Financial Group, the company said in its statement. The company signed a SAR4.2bn contract with thyssenKrupp Industrial Solutions in November 2015 to build the works, it said at the time. It will be located 100km outside the Saudi capital of Riyadh and boast a ...

Saudi Arabia's cement industry looks forward to good times

07 April 2014, Published under Cement News

Saudi Arabia's cement companies are preparing for long-term cement demand growth as they expand their capacity. However, for some such as Yanbu Cement, the past quarter has seen earnings contract. NBK Capital raised Yamama Cement’s share value from SAR52.50 (US$14.00) to SAR54.42. Several new megaprojects are scheduled to come online, which are expected to drive longer-term cement demand. In addition, cement demand had been heavily focussed towards the Western Region in the past two years...

Yamama Cement net profit rises 6.4% YoY

16 January 2014, Published under Cement News

Yamama Cement Co of Saudi Arabia said yesterday its net profit for 2013 rose by 6.4 per cent to SAR870m (US$232m), up from SAR818m a year ago. The increase was attributed to a rise in extraordinary gains from the sale of stakes in affiliate companies, Yamama Cement said without giving exact figures. The operating profit declined to SAR829m from SAR863m.