Cement News tagged under: Saudi Arabia
Yanbu Cement profits drop 43% in 202107 March 2022, Published under Cement NewsYanbu Cement saw its revenue slip to SAR934m (US$249.1m) in 2021 from SAR940m in 2020. As selling prices fell, net profit decreased 43 per cent to SAR160m in 2021 from SAR281m in the previous year, according to a bourse filing. An increase in general and administrative expenses also contributed to the decline in profit. |
Arabian and Najran Cement take drop in net profits02 March 2022, Published under Cement NewsArabian Cement Co posted revenues of SAR1003m (US$267.5m) in 2021, up 18.5 per cent YoY from SAR871.9m. However, the company saw its net profit after zakat and tax decline by 12.6 per cent to SAR161.5m in 2021 from SAR184.9m in 2020. Meanwhile, Najran Cement Co reported a 6.7 per cent drop in revenues to SAR581.6m in 2021 from SAR623.2m in 2020. Its net profits after zakat and tax fell 17.6 per cent YoY to SAR165.54m in 2021 from SAR200.94m in 2020. |
Saudi cement sales fall 6% to 4.9Mt in January08 February 2022, Published under Cement NewsThe total sales of 17 Saudi cement producers fell per cent to 4.9Mt in January, compared to 5.2Mt in the same month last year, according to recent data issued by Yamama Cement Co . Locally, 13 market players reported lower sales, led by Northern Region Cement C o with a 60 per cent YoY decline. It was followed by United Cement Industrial Co (down 35 per cent YoY), and Al-Jouf Cement Co , down 24 per cent YoY. On the other hand, four companies recorded higher sales, headed by Y... |
Aggregate Saudi Arabian Cement sales fall 7% in December11 January 2022, Published under Cement NewsThe aggregate sales of 17 Saudi cement producers decreased by seven per cent to 4.8Mt in December 2021, from 5.2Mt in the same month last year, according to recent data issued by Yamama Cement Co. In terms of local sales, 14 companies witnessed a sales drop, led by Northern Region Cement Co with a decline of 58 per cent YoY. It was followed by United Cement Co and Hail Cement Co with YoY decreases of 34 and 27 per cent, respectively. Argaam reports that Yamama Cement, Tabuk Cement... |
Qassim Cement Co plans 30MW solar power plant04 January 2022, Published under Cement NewsSaudi Arabia's Qassim Cement Co will mandate a consulting firm to help with the preparations for a 30MW solar plant at its site in Buraydah city. Qassim Cement produces about 4Mta of cement. The company will invest SAR152m (US$40.53m) to build a cement mill at its plant in Buraydah with a capacity of 300tph. |
Arabian Cement expects start Rabigh mills for 4Q2230 December 2021, Published under Cement NewsWhile completion of the new cement mills at Arabian Cement Co’s Rabigh plant in Saudi Arabia has reached 99.5 per cent, the project’s contractor, CNBM, has not been able to enter the country to resume work on the project, said Arabian Cement Co in a statement to the Saudi stock exchange. Resumption of work will be possible following the approval of relevant government agencies in China for the project team’s travel requirements. As a result, the expected date of commercial operations will ... |
Qassim Cement to establish new cement mill at Buraydah29 December 2021, Published under Cement NewsQassim Cement, Saudi Arabia, has entered into a preliminary agreement with the Chinese company, CDI, for the engineering, supply and construction of a new cement mill to be installed at the company's Buraydah cement plant. The new mill will have a replacement capacity of 300tph. The agreement with CDI includes the supply of mechanical and electrical equipment, including design and supervision of civil works, installations and commissioning test. The company said in a bourse filing t... |
Umm Al-Qura Cement Company granted limestone exploration license29 December 2021, Published under Cement NewsUmm Al-Qura Cement Company, Saudi Arabia, announced the issuance of an exploration license for limestone on 28 December 2021 from the Ministry of Industry and Mineral Resources. The license location is situated between Taif and Radwan. This license was issued in accordance with the Mining Investment Law issued by Royal Decree No. M/140 dated 10/19/1441 AH and its executive regulations. The company will carry out the necessary exploratory studies on the new quarry during the statutory... |
Yamama Cement Co makes early loan repayments16 December 2021, Published under Cement NewsYamama Cement Co announced the early repayment of SAR130m (US$34.6m) worth of two loan installments to Saudi Industrial Development Fund (SIDF), according to a bourse filing. The company has an outstanding debt balance of SAR1.178bn, reports Argaam. The repayment of the two installments, which were due in 2022, was financed from the company’s available cash. The early repayment is in line with the company’s strategy aimed at boosting its financial efficiency. |
Yanbu Cement completes modernisation project14 December 2021, Published under Cement NewsYanbu Cement Co has announced the completion of its Kiln Line 4 modernisation project following the recent shutdown. The reason for exceeding the previously announced end date is due to the delay in receiving some spare parts and the improvement of operations of the Line 4. |