Cement News tagged under: Middle East
Iraq to see new US$250m cement project23 August 2021, Published under Cement NewsIraq has reportedly awarded a project to a Spanish company to construct a cement plant at a cost of around US$250m. Iraqi Industry Minister, Manhal Al-Khabbaz, said the plant in the Nineveh Governorate, northern Iraq, would have an initial capacity of 4000-4500tpd, but could be expanded further at a later date, according to Zawya. The project is expected to complete with the next 2.5 years and produce new types of cement that are not currently available in the country. "This is a sign... |
Iranian cement sales down in July23 August 2021, Published under Cement NewsIran’s cement market contracted by 30.8 per cent MoM to 4Mt in July 2021 from 5.78Mt in June 2021. Clinker production declined from 6.75Mt in June 2021 to 3.95Mt in July 2021 while cement output decreased to 4.38Mt in July from 6.02Mt in June. In addition to a shrinking domestic market, exports of cement and clinker in July fell to 0.41Mt and 0.3Mt, respectively when compared with the previous month, when cement and clinker exports stood at 0.36Mt and 0.63Mt, respectively. |
Al Jouf Cement sees profit advance 25% YoY20 August 2021, Published under Cement NewsAl Jouf Cement has announced a 4.9 per cent YoY decline in revenue to SAR53.74m (US$14.34m) in the six months ended 30 June 2021, compared to SAR56.49m in the 1H20. However, the company's profit advanced 24.9 per cent to SAR19.68m from SAR15.75m. |
Cement sold through Iran's mercantile exchange rises18 August 2021, Published under Cement NewsThe operations manager of the Iran Mercantile Exchange (IME), Abbas Yaghoubi, has provided an update regarding the offering of all the country's cement via the IME, according to Trend News. Currently, 56 companies out of 78 cement companies have been admitted to offer their products through the IME, but further companies are expected to also accept and submit documents. "The trend of cement offering in the IME is upward," said Mr Yaghoubi. "The offering of cement via IME started from 1... |
Saudi Cement buys 37% share of United Cement17 August 2021, Published under Cement NewsSaudi Cement Co has acquired a 37 per cent stake in United Cement Industrial Co (UCIC) for SAR28m (US$330,426), as announced in Saudi Cement’s 2Q21 company report. Accordingly, Saudi Cement increased its stake in the subsidiary from 63 to 100 per cent. The company purchased items of property and equipment for SAR24.94m in the 1H21, while additions to capital work in progress amounted to SAR9.35m. UCIC, which was established in 2013, operates a 2Mta integrated cement plant ... |
Iran cement production capacity tops 88Mta in FY20-2117 August 2021, Published under Cement NewsIran’s nominal cement production capacity totalled 88Mta in FY20-21, according to a report issued by the Ministry of Industries, Mining and Trade (MIMT). Meanwhile, total cement production over the last year was 69.3Mt, of which 15Mt was exported to Iraq, Afghanistan and some Southeast Asian countries and 64Mt was used locally, stated MIMT. More than 70 cement factories were operational in Iran, which produced 27 types of cement, of which Type II and V are the most popular. |
Sinai Cement records 1H21 net loss of EGP253m17 August 2021, Published under Cement NewsSinai Cement Co reported a standalone net loss of EGP252.666m (US$16m) in the 1H21, according to the company’s financial statements. This marked a YoY rise of three per cent when compared to a loss of EGP245.687m in 1H20. In June 2021, Sinai Cement’s ordinary general assembly approved selling its shares in Sinai White Portland Cement Co based on the fair value of Sinai White’s share. |
Qassim Cement announces 10,000tpd new line13 August 2021, Published under Cement NewsQassim Cement Co has announced a new 10,000tpd production line at its plant in Buraydah, Saudi Arabia, that will replace some of the current production lines. The project execution is expected to start in the 1H22, the cement producer reported. The cost of the project will be announced after completing studies. The project's financing options, and expected completion date, financial impact as well as production date will be announced in due course, the company added. |
Saudi Cement sees 14% rise in profit10 August 2021, Published under Cement NewsSaudi Cement Co has posted a 14.1 per cent YoY rise in net profit to SAR86.4m (US$23.04m) in the quarter ending 30 June 2021, compared to SAR75.7m in the year-ago period. Revenue also climbed 17 per cent YoY to SAR348.1m from SAR297.5m in the 2Q20. |
Northern Region Cement sees 27% rise in net profit06 August 2021, Published under Cement NewsSaudi Arabia’s Northern Region Cement has seen its net profit rise 26.9 per cent YoY to SAR52.9m (US$14.11m) in the January-July period of 2021, compared with SAR41.65m in the first half of the previous year. However, sales decreased 1.6 per cent YoY to SAR307.19m from SAR312.2m in the 1H20. |