City Cement of Saudi Arabia has made a settlement with Sinoma International for payment of its second production line. The original contract was signed in June 2012 for a total of SAR970.63m (US$258.8m), but City Cement imposed a delay of eight per cent interest on the contract's final total of SAR43m.
City Cement's second production line in Riyadh has a cement capacity of 1.9Mta. The final settlement with Sinoma International will appear on the 4Q18 earnings of City Cement.
Qassim Cement appoints new board chairman and vice chairman
has appointed Dr Muhammad bin Nasser Al Dawood as chairman of the Board of Directors as of 1 J...