CMA suspends trading of shares in Raysut Cement
The Capital Market Authority (CMA) has suspended the trading of shares in Oman-based Raysut Cement SAOG after material misrepresentations were spotted in the company’s unaudited...
Middle East
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IFC loan proposed for new Al Douh Cement production line
IFC is proposing a corporate loan of up to US$65m to Al Douh Cement Co , one of the leading producers of cement in Iraq, to finance the company’s planned expansion of its produc...
Iran’s cement demand stable in October
The Iranian cement market expanded 0.3 per cent to 5.22Mt in October 2022 from 5.05Mt in October 2021, according to the Iranian cement association. Domestic cement production in...
Kuwait Portland Cement 3Q profit stable
Kuwait Portland Cement posted a 3Q total operating revenue of KWD32.7m (US$106.2m) in 3Q22, up from KWD27.6m in the equivalent period of 2021. The company’s net profit attributa...
Umm Al Qura Cement sees net profit slide 54% YoY in 9M22
Saudi Arabia’s Umm Al Qura Cement Company has reported a 15.13 per cent drop in revenue to SAR179.29m (US$47.8m) in the first nine months of 2022. This compares to SAR211.25m in...
Suez Cement orders 45GWh solar power project
Suez Cement Group ( Heidelberg Materials ) signed an electricity generation agreement with Intro Power and Utilities with the aim of constructing a solar power plant at the Suez...
Pakistan cement sales decline by up to 25%
Cement sales in Pakistan in the first four months of FY22-23 are expected to decline by 21-25 per cent compared to the same period a year earlier, according to the All Pakistan ...
Southern Province 9M profit contracts to SAR238m
The net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell ...
Najran Cement reports 50% drop in profit in 9M22
Najran Cement has recorded revenue of SAR375.6m (US$100.2m) in the opening nine months of 2022, down 15 per cent compared to the SAR441.89m seen in the 9M21. Net profit after Za...
Tabuk Cement posts 21% rise in revenue in 9M22
Tabuk Cement has posted a 20.6 per cent YoY increase in revenue in the first nine months of 2022. Revenue over the period has risen from SAR174.22m (US$46.5m) to SAR210.11m. How...