Cement News tagged under: Saudi Arabia
City Cement sets up AF joint venture12 September 2023, Published under Cement NewsSaudi Arabia-based City Cement Co has announced that its subsidiary Green Solutions for Environmental Services has set up a joint venture to produce alternative fuel from waste, reports Zawya. The newly-created venture, which reportedly has capital of SAR6.77m (US$1.8m), is owned by Green Solutions (29.4 per cent), Lechtenberg Middle East for Environmental Services Co (19.6 per cent), and Tadweer Environmental Services Company (51 per cent), a unit of Public Investment Fund-backed Saud... |
Hoffmann Green Cement Technologies to build green plants in Saudi Arabia06 September 2023, Published under Cement NewsHoffmann Green Cement Technologies (HGCT) has signed a 22-year exclusive licensing agreement with Saudi-based Shurfah Group that will see the construction of several green cement units across the kingdom. Founded in 2014 and based in Bournezeau, western France, Hoffmann Green Cement Technologies is a designer, producer and distributor of innovative extremely low-carbon cements that present, at equivalent dosage and with no alteration to the concrete manufacturing process, and superior p... |
Southern Province Cement posts net profit of SAR68m in 2Q2304 September 2023, Published under Cement NewsIn the January-June 2023 period, Southern Province Cement logged net profits after zakat and tax valued at SAR68m (US$18.1m) down 54.6 per cent YoY from SAR150m. Revenues declined by 6.74per cent to SAR526m in the 1H23 from SAR564m in the 1H22, while the earnings per share (EPS) plummeted to SAR0.49 from SAR1.07. During the 2Q23, the company posted 68.9 per cent lower net profits after zakat and tax at SAR19m, compared to SAR61m a year earlier. The revenues decreased by 3.42 per cent... |
City Cement revenue falls 13% YoY in 2Q2315 August 2023, Published under Cement NewsSaudi Arabia’s City Cement has posted revenue of SAR77.8m in the second quarter of 2023, down 13 per cent YoY. Net income over the same period fell 2.2 per cent to SAR24.3m, while the profit margin came in at 31 per cent, up from the 28 per cent seen in the second quarter of 2022. The increase in margin was reportedly driven by lower expenses. Earnings per share in the 2Q23 stood at SAR0.17, down slightly from SAR0.18 in the 2Q22. According to the company, revenue is expected to advance ... |
Al Jouf Cement reports 41% YoY increase in revenue14 August 2023, Published under Cement NewsAl Jouf Cement has reported revenue of SAR138.23m in the first half of 2023, marking a 40.6 per cent increase compared to the same period a year earlier. Net profit over the same period improved from SAR1.8m to SAR43.6m, driven by an increase in volumes and average selling prices. Earnings per share advanced from SAR0.02 in the 1H22 to SAR0.40 in the corresponding period the following year. In the second quarter of 2023, revenue stood at SAR67.96m, up 37.3 per cent YoY from the SAR49.48m... |
Hoffmann Green to build four new units in Saudi Arabia22 June 2023, Published under Cement NewsHoffmann Green Cement Technologies has agreed to collaborate with Shurfah Holding to build four Hoffmann units in Saudi Arabia. As part of Saudi Vision 2030, Shurfah Holding and Hoffmann Green have been in talks for over a year with the aim of developing low-carbon Smart Cities. In 2022 the two companies signed a preliminary letter of intent to a test phase which enabled Hoffmann clinker-free cement to be experimented in Saudi Arabia and the production process to be assessed locally. Follo... |
KHD host Saudi cement sector at Vision 2030 Symposium15 June 2023, Published under Cement NewsKHD hosted executives of the Saudi cement sector at the one-day KHD Vision 2030 Symposium. Taking place at the Hyatt Olaya Hotel in Riyadh, attendees discussed matters with KHD executives, sales representatives as well as experts from the company’s pyroprocessing and grinding departments. Representatives from KHD’s EPC partner, AVIC International Beijing, and knowledge partner A3&Co ® , also spoke, while two panel discussions provided the opportunity to hear insight and feedback from the cem... |
Southern Province places contract for two new lines at Jazan22 May 2023, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has placed an order with Sinoma International Engineering Co for two new 5000tpd production lines at its Jazan cement plant. Line 3 will go under construction first and is due for completion within 18 months. Infrastructure for a second 5000tpd line (Line 4) is also being put in place, with that line expected to complete within 24 months. The US$330m project is being entirely funded by a local bank, reports Mist News. The Jazan plant cur... |
Arabian Cement reports 17% drop in 1Q profit16 May 2023, Published under Cement NewsArabian Cement Co posted a net profit after zakat and tax of SAR49.2m (US$13.1m) in the 1Q23, down 17.4 per YoY from SAR41.9m. It was 40.2 per cent higher QoQ when compared with SAR35.1m in the 4Q22. The company’s sales declined 7.4 per cent YoY to SAR240.1m in the 1Q23 when compared with SAR259.3m in the equivalent period of the previous year, according to Mubasher. |
Hail Cement returns to profit in 1Q2315 May 2023, Published under Cement NewsSaudi Arabian cement producer Hail Cement Co saw revenue decline by 9.9 per cent YoY to SAR61.85m (US$16.5m) in January-March 2023 from SAR68.61m. The company posted a profit of SAR18.51m in the 1Q23, an improved results when compared with net losses after zakat and tax of SAR-6.89m in the year-ago period. The company attributed the increased profitability to a reduction in costs of sales and zakat expenses. The net profit after zakat and tax in the 1Q23 fell by 17.1 per cent QoQ to SA... |