Arabian Cement Co reports that it has received a Jeddah commercial court order in its favour, ordering Emaar The Economic City to supply to the company 4.57Mt of limestone based on the agreement signed by the two parties on 28 April 2012. The ruling will be deemed final if no appeal is filed within 30 days.
In September 2021 Arabian Cement filed a lawsuit before Jeddah Commercial Court against Emaar EC which is building King Abdullah Economic City, claiming the remaining quantities of limestone ore in accordance with an agreement signed between them in 2012. The 2012 agreement concerned a resolution to the dispute that existed between them on the overlapping of the 3.66Mm2 land plots owned by Emaar EC.
Under the settlement, Emaar EC was committed to provide, free of charge, 50Mt of limestone needed for the cement company’s manufacture from the dredging output extracted from the construction of the King Abdullah Economic City port, after obtaining the necessary mining license from the Ministry of Petroleum and Mineral Resources. In return, Arabian Cement was obliged to give Emaar the concession lands it owned by virtue of the legal deed. The agreement was valid for six years.
