Cement News tagged under: Middle East
Suez Cement awards WHRPG project to Korra Energi15 June 2022, Published under Cement NewsKorra Energi has been awarded a new strategic, 'Waste Heat Recovery for Power Generation (WHRPG) project at Helwan Company ( Suez Cement Group), which is affiliated with HeidelbergCement Group . Korra Energi was pleased to take the lead with such an environmental and eco-friendly and Energy Efficiency application, as it is the first of its kind to be applied in Egypt for the cement industry. Korra Energi has taken charge of the design and build of the project where wasted heat generat... |
Court ruling favours Arabian Cement in Emaar Economic City case13 June 2022, Published under Cement NewsArabian 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 l... |
Al-Ahlia Cement launches tender for lime factory modernisation07 June 2022, Published under Cement NewsLibya’s state Al-Ahlia Cement company ( National Cement Co Group ) is offering a tender to restart its lime factory in the Souq Al-Khamis complex. The company explained that the planned restart of its lime factory will be on a joint venture (JV) basis in accordance with the Libyan Investment Law number 10 of 2010 and its executive regulations. The tender is for the renovation, operation and marketing of the lime factory output for a renewable 10-year period. Al-Ahlia has invited intereste... |
Southern Province Cement starts work on new Jazan plant01 June 2022, Published under Cement NewsSouthern Province Cement Co has started work on its new 5000tpd plant in Jazan, Saudi Arabia. The project is part of the company’s plans to boost its production capacity to 10,000tpd and gradually replace its current production lines. Southern Province Cement’s performance remained under pressure in the first quarter of 2022 as revenues were down 25 per cent YoY . |
Najran Cement secures SAR328.5m loan from Al Rajhi Bank01 June 2022, Published under Cement NewsSaudi Arabia’s Najran Cement Co has obtained Sharia-compliant financing of SAR328.5m (US$87.6m) from Al Rajhi Bank. The loan will be repaid within seven years in semi-annual instalments with a six-month grace period, according to a bourse filing on 31 May. While the long-term financing will fully settle the company’s sole existing long-term loan, the funding also includes a SAR50m short-term facility to support the group’s capital. In the 1Q22 Najran Cement generated SAR23.28m in net p... |
Algerian port exports record clinker levels in 4M2226 May 2022, Published under Cement NewsThe port company of Skikda in Algeria has exceeded its annual clinker export target set at 274,907t, by exporting more than 325,000t in the first four months of the year, according to Abdelmalek Hamidecha, the company's communication and information officer. The increase in clinker exports at the port has been enabled through facilitation measures taken to encourage and support economic operators and promote exports. The clinker was exported from the port to Germany, France, Great Britain... |
Najran Cement reports 24% fall in revenue in 1Q2224 May 2022, Published under Cement NewsNajran Cement Co has recorded a 61.41 per cent YoY decline in net profit in the opening quarter of 2022. Net profit after zakat and tax came in at SAR23.28m (US$6.21m) in the 1Q22, compared to SAR60.34m in the same period a year earlier. Earnings per share in the first quarter of 2022 were SAR0.14, versus SAR0.35 in the same quarter a year earlier. According to Mubasher, revenue over the 1Q22 stood at SAR139.86m, down 24.2 per cent from the SAR184.43m reported in the opening quarter o... |
Yanbu Cement sees 17% fall in 1Q22 revenue23 May 2022, Published under Cement NewsYanbu Cement has reported a 17.4 per cent YoY decline in revenue to SAR242m (US$64.53m) in the opening quarter of 2022. However, this was still above the SAR224m estimated by Al Rajhi Capital. Gross profit over the same period contracted by 33 per cent YoY, while operating profit fell by 41.4 per cent, according to Trade Arabia. The Saudi company attributes the decline to a 6.7 per cent fall in cement volumes, which came in at 1.3Mt in the 1Q22. This compares to an average contraction... |
Southern Province revenue down 25% in 1Q2220 May 2022, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has posted a revenue of SAR330m (US$88m) for the first three months of 2022. This represents a 25 per cent drop when compared with the 1Q21. Cement sales volumes were down 23.7 per cent YoY to 1.6Mt. Gross profit declined 42.3 per cent YoY while operating profit decreased 47 per cent YoY in the 1Q22. Gross margins were down to 32.2 per cent in the 3M22 from 41.9 per cent in the 3M21. "For Q1 2022, cement volume of SPCC fell by 23.7 per cen... |
Lafarge to face charges for paying Islamic state in Syria20 May 2022, Published under Cement NewsA French appeals court has confirmed that the cement giant Lafarge must face charges of complicity in crimes against humanity over alleged payoffs to Islamic State group and other jihadist groups during Syria's civil war, reports France 24. Lafarge, now part of Holcim group , has acknowledged that it paid nearly EUR13m (US$13.7m) to middlemen to keep its Syrian cement factory operating in 2013-14, long after other French firms had pulled out of the country. The company contends that i... |