Cement News tagged under: UAE
Gulf Cement narrows loss13 February 2020, Published under Cement NewsUAE-based Gulf Cement reported a fall in revenues to AED443.6m (US$120.8m) in 2019, down from AED475.7m in 2018. This represents a YoY drop of 6.7 per cent. The company’s loss narrowed from AED33m in 2018 to AED26.8m. Gulf Cement operates a 2.7Mta integrated cement plant in Khor Khuir, Ras Al Khaimah. It has a clinker capacity of 3.8Mta. |
Shree Cement is closing in on 50Mta of cement production07 February 2020, Published under Cement NewsThis week it was announced that Shree Cement would enter the market of western India within the next six months . The company is preparing to open a new 2.5Mta grinding plant in Pune, Maharashtra with an investment of US$87.8m. The new plant will receive clinker from its plant in Kodla, Karnataka. Shree Cement has been expected to go on a growth path. As recently as November 2019 it raised more than US$278.36m through a qualified institutional placement (QIP) offering, which was underst... |
JSW Cement will use UAE plant to grow06 December 2019, Published under Cement NewsThis week, JSW Cement announced that its new 1Mta clinker production unit in Fujairah, UAE, is expected to be on-stream in January 2020. The project will enable JSW Cement to transfer clinker from UAE to Mumbai, where it will complete the finish grinding for the Indian market. The Dolvi plant is the company's closest plant to Mumbai, being situated just to the south in Raigad district. However, originally it was only equipped with a single 72tph UBE VRM and had a grinding capacity of 1Mta.... |
JSW Cement expects UAE unit to be completed by January 202029 November 2019, Published under Cement NewsJSW Cement’s clinker production unit Fujairah, UAE, is expected to be completed by the end of January 2020, according to an interview with the Hindu Business Line. Parth Jindal, managing director of JSW Cement, noted that Ultratech and Ambuja send clinker from Gujarat to be ground near Mumbai. However, the freight from Gujarat and Fujairah to Mumbai is the same because they send it in small vessels and JSW plans to deliver it in big barges. The US$110m project will be the main source of... |
Arkan sees increase in net profit for the 9M1908 November 2019, Published under Cement NewsUAE-based Arkan Building Materials Co has recorded a net profit of AED36.13m (US$9.8m) for the first nine months of 2019, compared to AED10.2m in the corresponding period last year. However, group revenue declined 6.1 per cent YoY to AED675.50m from AED719.71m, on the back of increased competition and pressure on prices. "Achieving optimum efficiency across our business remains our utmost priority as we continue to navigate through this challenging business cycle," said Jamal Salem Al Dhah... |
RAK White Cement announces 29% net profit rise05 November 2019, Published under Cement NewsUAE-based RAK White Cement saw its net profit increase 28.6 per cent to AED17.89m (US$4.8m) during the 9M19, compared to AED13.91m in the year-ago period. Sales advanced 5.9 per cent to AED180.16m in the first nine months of 2019 against AED170.08m in the 9M18. |
Sharjah Cement elects new chairman14 October 2019, Published under Cement NewsUAE-based Sharjah Cement has elected Othman Mohammed Sharif Abdullah as its new chairman and board member, according to a bourse statement on Sunday. The election was made during the company’s board meeting on Saturday, 12 October 2019. |
RAK Cement cancels cement plant acquisition plans11 September 2019, Published under Cement NewsUAE-based Ras Al Khaimah Cement has reportedly cancelled a deal to acquire a cement plant and quarry as financing could not be arranged, according to Reuters. While the name of the plant and quarry were not released in the statement, the company had previously planned to acquire the Newtech cement plant and Al Banna quarry in Fujairah. However, the deal, valued at AED450m (US$122.5m), was pushed back to the 2Q19 due to incomplete financing procedures. |
Arkan sees 55% net profit increase in 1H1906 August 2019, Published under Cement NewsUAE-based Arkan Building Materials has announced a 55 per cent YoY increase in net profit to AED33.8m (US$9.2m) for the 1H19. The positive result has been attributed to cost management schemes, the award of an insurance claim and proceeds from the Emirates Cement Factory sale. However, group revenue declined 8.9 per cent to AED458.9m, compared with AED503.8m in the 1H18. The fall was a result of market price pressure as export markets saw a slowdown, according to the company. |
Sharjah Cement sees 85% drop in profit for 1H1906 August 2019, Published under Cement NewsUAE-based Sharjah Cement has seen an 84.7 per cent YoY fall in profit to AED2.54m (US$691,626) for the 1H19, compared with AED16.55m in the year-ago period. The company also reported an 8.5 per cent decline in revenue to AED291.43m from AED318.48m. In the 2Q19, profits slipped 60.2 per cent to AED1.74m from AED4.37m. Revenue decreased 5.1 per cent to AED138.31m, against AED145.81m in the 2Q18. |