Saudi Arabia: Qassim Cement has signed an agreement with the Saudi Industrial Development Fund (SIDF) to secure US$105m of funding for the construction of a fourth production line at its plant in the Buraydah region. The funding will help replace certain production lines and boost its capacity to 10,000t/day, according to a stock exchange filing.
The financing is for a nine-year period, including a two-year grace period, with a repayment schedule over 7 years.
In 2025, Qassim Cement awarded a US$298m contract to China-based Sinoma to set up the fourth cement production line at its Buraydah plant. Under this, Sinoma will provide complete EPC services for the production line.
