German engineering group CEMAG Anlagenbau GmbH and Saudi TIG Group signed, in late May 2006, an agreement for construction of a 1.1 bln Saudi riyals ($293m) cement plant in Jalajil, central Saudi Arabia.  Under the two-year contract, CEMAG will provide engineering, procurement, supply, execution and maintenance for TIG’s cement plant. The plant will have an annual capacity of 3.0Mta. TIG Group plans to hold an initial public offering (IPO) to offer 30 pct of Al-Watan Cement, the company chosen to operate the plant.