Cement News tagged under: Middle East
City Cement revenue falls 13% YoY in 2Q2315 August 2023, Published under Cement NewsSaudi Arabia’s City Cement has posted revenue of SAR77.8m in the second quarter of 2023, down 13 per cent YoY. Net income over the same period fell 2.2 per cent to SAR24.3m, while the profit margin came in at 31 per cent, up from the 28 per cent seen in the second quarter of 2022. The increase in margin was reportedly driven by lower expenses. Earnings per share in the 2Q23 stood at SAR0.17, down slightly from SAR0.18 in the 2Q22. According to the company, revenue is expected to advance ... |
Al Jouf Cement reports 41% YoY increase in revenue14 August 2023, Published under Cement NewsAl Jouf Cement has reported revenue of SAR138.23m in the first half of 2023, marking a 40.6 per cent increase compared to the same period a year earlier. Net profit over the same period improved from SAR1.8m to SAR43.6m, driven by an increase in volumes and average selling prices. Earnings per share advanced from SAR0.02 in the 1H22 to SAR0.40 in the corresponding period the following year. In the second quarter of 2023, revenue stood at SAR67.96m, up 37.3 per cent YoY from the SAR49.48m... |
Lafarge Jordan launches Shamel eco cement08 August 2023, Published under Cement NewsHolcim Ltd subsidiary Lafarge Jordan Cement has introduced Shamel, an environmentally friendly cement as part of the company’s sustainability drive. In a statement, Lafarge Jordan CEO, Samaan Samaan, highlighted the company's successful transformation in adopting an environmentally-conscious approach, noting that the entire product range has been revamped to embrace eco-friendly alternatives, a strategic move that resonates with the global vision of its parent company. "Shamel" represe... |
Attock Cement Pakistan Ltd completes share sales in Iraqi subsidiary03 August 2023, Published under Cement NewsThe Company Secretary at Attock Cement Pakistan Ltd, Irfan Amanullah, has informed the Pakistan Stock Exchange (PSX) that further to the company’s intimation dated 21 June 2023, regarding the sale of the entire shareholding of the company in its subsidiary Saqr Al-Keetan for Cement Production Co Ltd (SAKCPCL), it announces that the process of transfer of 9m shares to the buyers is duly completed on 26 July 2023 and the shares have been registered in the name of buyers under the Iraqi Law... |
Qena Cement undergoes assessment for alternative fuel project31 July 2023, Published under Cement NewsAs part of Misr Cement Group’s commitment to its strategy to "positively impact on the environment”, the Qena cement plant has submitted an environmental impact assessment study for an alternative fuel project. The project is entitled “Using different types of hazardous and non-hazardous waste as an alternative fuel". The company aims to reduce its thermal energy use by harnessing alternative fuels as an energy source in cement kilns, and the safe disposal of hazardous and non-... |
Iran’s cement market contracts 18% in June 202325 July 2023, Published under Cement NewsCement demand in Iran has declined by 17.6 per cent YoY to 4.78Mt in June 2023 when compared with June 2022, according to the Iranian Cement Association. Cement exports saw a 37.2 per cent increase YoY to 0.494Mt in June 2023 while clinker exports decreased by 30.6 per cent YoY in the same period. Output from Iran’s cement plants increased by 3.5 per cent to 6.83Mt of clinker and by 13.6 per cent YoY to 6.34Mt in terms of cement. January-June 2023 In the first half of 2023 cement sale... |
Fujairah plant orders WHR system from Turboden17 July 2023, Published under Cement NewsTurboden SpA, a Mitsubishi Heavy Industries Group company, together with ENGIE Solutions GCC, has been selected by LEC for the production and installation of a 10MWe WHR organic Rankine cycle (ORC) system at the Fujairah cement plant, UAE. Based on a closed-loop thermodynamic cycle, the ORC system will help LEC avoid 29,000tpa of CO 2 emissions from the grid, representing a reduction of 28 per cent in power-related emissions. The waste heat recovery system based on the ORC techn... |
Oman Cement Co sees net profits rise 32% in 1H2313 July 2023, Published under Cement NewsOman Cement Co , which is listed on the Muscat Stock Exchange, has achieved a 32.02 per cent increase in net profit for the first half of 2023. According Oman Cement’s financial statement, it achieved annual profits of OMR4.19m for the 1H23, surpassing the OMR3.17m achieved in the 1H22. The company saw revenue growth of 5.13 per cent in the 1H23 and revenue totalled IMR36.76m, up from OMR34.96m in the 1H22. |
Egypt's cement exports rise 33% in 5M2313 July 2023, Published under Cement NewsEgypt’s cement exports climbed by 33 per cent during the first five months of 2023, according to a recent report by the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM). According to the report, exports from Egypt reached US$380m, up from the US$286m recorded during the same period in 2022. Côte d'Ivoire's imports of Egyptian cement had a value of US$84.347m, rising by 203 per cent YoY, reported Amwal Al Ghad. Ghana imported US$65.155m worth of Egyptian ... |
Sinoma to build cement plant in Iraq12 July 2023, Published under Cement NewsSama Samawa Industries Commissioner revealed an agreement with Sinoma to establish a cement factory in Muthanna Governorate, southern Iraq. While stating that the production will reach 7000tpa, the director of the Chinese company affirmed that the factory will be operational by 2025. Taha Mashat, commissioner of Sama Samawa Industries, stated: "The project aims to produce various types of cement, with daily production reaching 7000t and an annual output of 2Mt." Mr Mashat added, "The c... |