Cement News tagged under: Middle East
Lafarge Iraq launches an improved version of Karasta multipurpose cement26 June 2014, Published under Cement NewsLafarge Iraq has launched a new version of Karasta, its multipurpose cement which is tailor-made for the Iraqi climate and market needs. To meet customer expectations and requirements the formula of Karasta was revised to improve its workability, decrease cracking and improved setting time as well as better adhesion. Karasta's new formula meets the Iraq specification 3868 and the international standards EN 197-1:2011 CEM II/A-L 42.5 R, which is similar to Lafarge products in other countrie... |
Iran’s exports surpass 3Mt mark in first two months12 June 2014, Published under Cement NewsIran exported over 3.47Mt of cement and clinker in the first two months of the current Iranian calendar year, which began on 21 March, an Iranian cement industry official announced on Tuesday. In the second Iranian calendar month of Ordibehesht (21 April - 21 May ), Iran exported over 1.411Mt of cement and 625,393t of clinker, IRIB quoted Abdolreza Sheikhan as saying. Over 8.739Mt of the cement produced in the two-month period was used domestically, he added. Iran exported around 18M... |
Qatar consumption forecast to double by FY1718 April 2014, Published under Cement NewsCement consumption in Qatar is expected to double from current levels within the next three years, a new report has forecast. Dubai-based financial services firm Arqaam Capital said in its report on Qatar’s cement sector released this week that consumption will be driven by heavy government infrastructure spending. Citing various official data, the report said Qatar is expected to open up to QAR182bn (US$50bn) construction projects this year, up 15 per cent compared to last year. The m... |
Fujairah Cement profit hit by weaker prices24 February 2014, Published under Cement NewsUAE-based producer Fujairah Cement recorded a AED12m (US$3.3m) loss last year as a weaker pricing environment affected revenue despite higher sales. In a filing posted on the Abu Dhabi Securities Exchange yesterday, the company said revenues were AED588m last year, compared to revenues of AED569m and a gross profit of AED35m the year before. “The market has not increased in our favour,” said Murthy Veasi, the company’s finance manager. “Prices have come down by nearly AED10 [per tonne] ... |
Lafarge's profit drops in Europe and Latin America, but group net profit jumps24 February 2014, Published under Cement NewsLafarge's turnover declined by 3.9 per cent to EUR15,198m in 2013, having increased by 3.5 per cent in 2012. The EBITDA came down by 9.4 per cent to EUR3102m and the trading profit fell by 14 per cent to EUR2,075m as carbon credits dropped by 85.9 per cent from EUR99m to EUR14m. Net financial charges, which had been rising in recent years, declined by 4.9 per cent to EUR1041m, while other charges were 88.9 per cent lower at EUR55m, resulting in a pre-tax profit 20.2 per cent higher at EU... |
ACC to construct new kiln line, Saudi Arabia22 February 2014, Published under Cement NewsThe managing board of Arabian Cement Co has agreed to boost production at the company’s Rabigh plant in Saudi Arabia by constructing a new kiln line. The new kiln will add capacity of 10,000tpd and is expected to start operations in mid-2017. (Source: SeeNews Middle East & Africa). |
Oman: Raysut Cement's profit rises on higher demand13 February 2014, Published under Cement NewsOman’s largest cement producer, Raysut Cement, achieved a 12.6 per cent growth in net profit in 2013 to OMR27.62m (US$71.73m), on the back of higher domestic demand. Revenue rose by 0.5 per cent to OMR93.29m from OMR92.8m a year earlier, the company said in a disclosure to the Muscat Securities Market. Cost of sales fell to OMR61.72m in 2013 from OMR62.88m during the year before. The preliminary results are unaudited and subject to the approval of the statutory auditors, audit committe... |
Saudi approves licence for new Riyadh plant11 February 2014, Published under Cement NewsSaudi Arabia's minister of commerce and industry, Dr Tawfiq bin Fawzan Al-Rabiah, approved the licence for the establishment of Baha Cement Co, in Riyadh, with a share capital of US$106.7m (SAR400m). According to the Saudi Press Agency, 50 per cent of the company's shares will be held by the project's partners, and the remaining 50 per cent will be offered to the Saudi public. The Minister's approval came within the framework of the state's policy to enhance economic activities in vario... |
Exane BNP downgrades Lafarge to “underperform”24 January 2014, Published under Cement NewsExane BNP Paribas downgraded its opinion on Lafarge from “outperform” directly to “underperform”. However, the analysts raised the target price from EUR50.5 to EUR58. “Lafarge is exposed to structural problems, including in the Middle East and Africa, where the company has more than 40 per cent of its equity invested,” says Exane. The commissioning of new capacity in these always offers attractive returns, which leads to competition and creates downward price pressures. But Lafarge’s eco... |
Full-year Saudi cement sales rise 4%14 January 2014, Published under Cement NewsCement sales in Saudi Arabia increased by four per cent in 2013 to 55.6Mt compared to 53.5Mt in 2012, a report released by local producer Yamama Cement Co has revealed. However a six per cent YoY decline was recorded in December to 4.79Mt, with all but four cement companies reporting a drop in sales. Increases were seen at Madinah Cement (+40 per cent), Arabian Cement (+37 per cent), Northern Province (+22 per cent) and Safwa Cement (+16 per cent). Meanwhile, Al Jouf and Riyadh Cement reg... |