Cement News tagged under: Middle East
Cemex makes key EMEAA investments at the start of 202123 February 2021, Published under Cement NewsCemex has started 2021 by investing for growth and its climate action strategy in Europe, Middle East and Africa (EMEAA). It has made seven bolt-on investments that are aligned to its key priorities of climate action, sustainable construction and EBITDA growth, representing advances in fossil fuel reduction, lower-CO 2 products, circular economy, recycling and products that demonstrate life cycle CO 2 and energy consumption advantages for buildings. The investments include a new, low... |
Lebanon to allow cement imports by individuals22 February 2021, Published under Cement NewsLebanon’s outgoing Minister of Industry, Imad Hoballah, indicated that the country would allow individuals to import cement to lower the price of cement. Cement prices have risen from LBP240,000/t (US$159.20/t) to LBP1.3m/t following the total closure of the country, including its cement plants, between 14 January-7 February. Imported cement must meet specific technical criteria and be cheaper than LBP240,000/t. However, no decisions have been made in terms of volumes as the ministry wants ... |
Saudi Cement Co sees 9% rise in revenue19 February 2021, Published under Cement NewsSaudi Cement Co has seen its net profit edge up one per cent YoY to SAR456m (US$121.6m) in the full-year 2020 period. The rise in annual net earnings was attributed to improved sales and other income, coupled with decreasing general, administrative and financing expenses. Revenue advanced 8.9 per cent YoY to SAR1.57bn from SAR1.44bn in 2019. |
Wärtsilä wins O&M agreement with Umm Al Qura Cement19 February 2021, Published under Cement NewsWärtsilä has signed a five-year operation and maintenance (O&M) agreement with the Saudi Arabian cement producer Umm Al Qura Cement Co. It is the third agreement term for the customer’s captive power plant installation. Following the continued efficient and reliable performance of the power plant, this latest contract was renewed for five years in November 2020. The 47MW plant is located in Taif City in western Saudi Arabia. It operates with five Wärtsilä 32TS engines, a two-stage turb... |
Sharjah Cement receives approval to delist17 February 2021, Published under Cement NewsUAE-based Sharjah Cement has received the approval of the Capital Market Authority (CMA) to voluntarily delist from Boursa Kuwait. On 30 April 2020, the ordinary general meeting (OGM) of Sharjah Cement had agreed on a voluntary withdrawal from the stock exchange through the required measures. |
Northern Cement reports 37% rise in net income15 February 2021, Published under Cement NewsJordan’s Northern Cement has reported a 24 per cent decline in revenue to JOD37.19m (US$52.46m) in 2020, compared with JOD48.94m in the previous year. Gross profit advanced 29.9 per cent YoY to JOD9.27m. Net income after tax climbed 37.1 per cent to JOD6.25m from JOD4.56m in 2019. |
Yamama Cement reports revenues of SAR211m in FY2015 February 2021, Published under Cement NewsSaudi Arabia’s Yamama Cement (YSCC) registered revenue of SAR211m (US$56m) in FY20,a YoY drop of 10.8 per cent. Cement sales volumes for 4Q20 reached at 1.19Mt. Gross profit and operating income fell by 23.2 per cent YoY and 24.8 per cent YoY, respectively. For 2020 YSCC registered a volume growth of 17.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local market, reports Trade Arabia. “The operating performance during the quarter was impacted by high p... |
Ras Al Khaimah Cement reports 9% decline in profit12 February 2021, Published under Cement NewsUAE-based Ras Al Khaimah Cement Co has reported a nine per cent decline in net profit to AED50.71m (US$13.8m) last year, compared to AED55.71m in 2019. The company's revenue also fell 15 per cent YoY to AED153.08m from AED181.66m. During the first nine months of 2020, the company's net losses had surged to AED23.7m from AED6.4m in the year-ago period. |
Gulf Cement Co sees net loss widen in 202011 February 2021, Published under Cement NewsUAE-based Gulf Cement Co has posted a net loss of AED273.5m (US$74.47m) in 2020, compared to a net loss of AED26.8m in the previous year. The company’s revenue also declined 22 per cent YoY to AED345.9m from AED443.6m in 2019. |
Yanbu Cement prepares to shutdown Line No 4 for 60 days11 February 2021, Published under Cement NewsYanbu Cement announced that its production line No 4 will be shut down for 60 days from the 15 February 2021, in line with the implementation of its strategic plan of modernisation, according to a bourse filing. Cement sales will not be impacted by the suspension of the production line, given the sufficiency of its clinker strategic stocks, reports the company. Meanwhile, production line No 5, which represents 60 per cent of the company's total capacity, will continue at full capac... |