Cement News tagged under: Middle East
Iranian cement exports rise 12% in under two years16 April 2024, Published under Cement NewsThe head of Iran’s Cement Industry Producers Association, Ali-Akbar Alvandian, said on Saturday that the country had exported 10.5Mt of cement in the first nine months of the Iranian calendar year 1402 (21 March-21 December 2023). He added, that in the previous year, 13Mt of cement had been exported. Alvandian noted that Iran produces about 90Mta, 60Mta of which is consumed domestically. Moreover, cement production in the country has grown 12 per cent since Ebrahim Raisi came to power in... |
Decarb in Dubai10 April 2024, Published under Cement NewsCemtech’s annual meeting for the Middle East & Africa saw the regional industry gather once again in Dubai at the stunning Sofitel Dubai The Obelisk on 18-21 February 2024. The event offered delegates from over 40 countries two days of insightful presentations and discussions, networking and broad exploration of decarbonisation technologies. Cemtech MEA examined different aspects of decarbonisation technologies through lively but skillfully-moderated panel (© Cemtech) C e... |
Strong growth in Iran cement despite risks10 April 2024, Published under Cement NewsIranian cement consumption rose 15.2 per cent YoY in February 2024 to 4.93Mt, up from 4.28Mt, according to the Iranian cement association. Producers manufactured 5.13Mt of cement and 5.04Mt of clinker in February, an increase of 11.8 and 18.9 per cent, respectively, when compared with February 2023. A total of 0.93Mt of cement and clinker was exported in February, with cement exports decreasing 11.1per cent YoY to 0.32Mt and clinker exports dropping 37.1 per cent YoY to 0.61Mt. January-Fe... |
City and Umm Al-Qura Cement agree to date extension of swap deal09 April 2024, Published under Cement NewsCity Cement Co last week announced an update at the Saudi Stock Exchange (Tadawul) regarding extending a non-binding Memorandum of Understanding (MoU) concerning a securities swap deal with Umm Al-Qura Cement Co. Accordingly, it has been agreed with Umm Al-Qura Cement Co to extend this memorandum with the same previous terms and conditions for an additional six months from the date of expiration of the extension of the MoU. The extension is due to complete the necessary procedures to ... |
Fujairah Cement reports sales drop in 202327 March 2024, Published under Cement NewsUAE-based Fujairah Cement Industries has reported sales of AED343.81m (US$93.62m) in 2023. This marks a contraction from the AED374.58m seen in the previous year. The company has also recorded a net loss of AED265.53m in 2023, compared to the loss of AED143.85m in 2022, while the basic loss per share from continuing operations came in at AED0.74 in 2023, versus a loss of AED0.40/share in the previous year. |
Al Jouf Cement records 20% revenue advance25 March 2024, Published under Cement NewsAl Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 59.1 per cent. In the fourth quarter of 2023, revenue stood at SAR83.74m, up 5.4 per cent on the ... |
Northern Region Cement reports 50% drop in net profit in 202325 March 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co saw a 11.6 per cent increase in revenue to SAR689.55m in 2023 from SAR617.95m in 2022. However, net profits were down by 49.9 per cent YoY to SAR556.39 in 2023 from SAR112.45m. In the nine-month period ended on 30 September 2023, the net profits after zakat and tax reached SAR64.7m, down 14.6 per cent YoY from SAR75.72m. |
Kuwait Cement reports a 59% fall in quarterly profit22 March 2024, Published under Cement NewsKuwait Cement Co KSC has reported a 59.3 per cent drop in quarterly net profit from KWD2.7m (US$8.8m) to KWD1.1m between January 1 to 31 March 2024. The company's quarterly operating revenue fell 10.6 per cent to KWD18.5m, compared to KWD20.7m in the same quarter of 2023. |
Syrian Hama plant restores Plant No 3 to working order21 March 2024, Published under Cement NewsGeneral Company for Cement and Building Materials in Hama province, Syria, has restored Plant No 3 to operational status, after the completion of comprehensive maintenance of its machines and equipment by the efforts of engineering and technical cadres working in it. Maintenance work began at the Hama Cement plant last January, and the work was carried out with the expertise and national and local cadres of the cement producer’s workers with experience and specialisation, general mana... |
Riyadh Cement reports 8% uptick in sales19 March 2024, Published under Cement NewsSaudi Arabia-based cement producer Riyadh Cement Co reported a 7.6 per cent increase in sales to SAR643.4m (US$171.6m) in 2023 when compared with SAR598m in 2022 on the back of an increase in sales volumes. The company’s operating income slipped by 0.4 per cent YoY to SAR201.06m in 2023 from SAR201.94m. Net profit declined by 0.6 per cent SAR188.8m in 2023 from SAR189.8m in the year-ago period. Annual earnings were affected by higher general and administrative expenses as well as zakat c... |