Displaying items by tag: Arabian Cement

Egypt: Arabian Cement’s first-half sales were US$111m in 2022, up by 121% year-on-year from US$50.4m in the first half of 2021. The company recorded a profit of US$6.25m during the reporting period, compared to a loss of US$1.22m one year previously.

Saudi Arabia: Arabian Cement says that the Jeddah Commercial Court has ruled in its favour in a lawsuit it filed against Emaar, the Economic City Company, to claim outstanding quantities of limestone it was due in an agreement the companies signed in 2012. The court has ordered Emaar to give Arabian Cement around 4.6Mt of limestone. As part of the deal, from 2012 to 2018, Emaar agreed to provide the cement company with 44.7Mt of limestone. However, Arabian Cement maintains that it did not receive 5.3Mt of the total.

Arabian Cement previously gave land to Emaar in return for a limestone supply deal. Emmar company has been developing the King Abdullah Economic City.

Egypt: Arabian Cement more than doubled its consolidated sales year-on-year to US$57.4m in the first quarter of 2022 from US$23.4m in the first quarter of 2021. During the quarter, the producer recorded a profit of US$3.19m, compared to a US$343,000 loss in the corresponding quarter of 2021.

Saudi Arabia: Cement output rose slightly to 53.7Mt in 2021 from 534Mt in 2021. Clinker output increased by 12% year-on-year to 55.1Mt from 49.2Mt. Cement exports fell by 32% to 1.44Mt from 2.13Mt but clinker exports grew by 50% to 6.73Mt from 4.50Mt. Saudi Cement remained the country’s largest clinker export but exports from Yanbu Cement and Arabian Cement grew sharply.

Saudi Arabia: Arabian Cement has placed an order with Denmark-based FLSmidth for the supply of equipment for an upgrade of its Rabigh cement plant. The order includes new DDX top cyclones, a quenching chamber and an ABC Cooler Inlet. Installation and commissioning is expected to be during the fourth quarter of 2021.

Arabian Cement’s chief executive officer Badr Osama Johar said, “With FLSmidth having provided the original line, they were the obvious candidate for the upgrade - we wanted a trusted partner who knows the ins and outs of the plant and is able to secure the success of the upgrade.” The producer previously engaged the company for the supply of its Rabigh plant’s kiln in 2008.

Egypt: The US-based International Centre for Settlement of Investment Disputes (ICSID) has ruled in favour of the Egyptian government in a compensation case raised by Spain-based Cementos La Unión concerning its Arabian Cement Company (ACC) subsidiary. The El Economista newspaper has reported that the company sought US$286m in compensation, due to the Egyptian government’s decision to retroactively impose new activity and electricity licences shortly after ACC built a new integrated cement plant in Suez Governorate. Cementos La Unión argued that the additional licences breached a bilateral agreement between Spain and Egypt covering investments that were already in place.

The company said that it will continue to pursue its claim, which is also progressing in Egypt.

Egypt: Arabian Cement has reported an 88% decline in profit year-on-year to Euro 1.60m in 2019 from Euro13.3m in 2018. Sales were Euro181m, down by 5.5% from Euro 192m in 2018 due to depleted demand. Expansión newspaper called 2019 ‘the worst year in history for Egypt’s cement industry.’

Egypt: Arabian Cement’s sales revenue fell by 5% year-on-year to US$139m in the first nine months of 2019 from US$147m in the same period in 2018. Local sales dropped whilst export sales and services rose. Its profit for the period after tax decreased to US$2m from US$13.3m.

Egypt: Arabian Cement has signed a 0.3Mt/yr petcoke supply deal with the Egyptian Refining Company. Sergio Alcantarilla, the chief executive officer (CEO) of Arabian Cement said that the agreement was part of the company’s plans to reduce its production costs and improve operational performance by diversifying its energy sources, according to the Daily News Egypt newspaper. The company operates a 5Mt/yr integrated cement plant at Ain Sokhna in the Suez Governorate.

Saudi Arabia: Arabian Cement says that the National Electricity Transmission Company plans to complete an expansion to a high-voltage plant in Rabigh by the third quarter of 2021. The project has been delayed but the cement producer said that this will have no financial impact, according to Mubasher. Arabian Cement originally signed an agreement with the National Electricity Transmission Company to supply electricity to its Rabigh plant in 2015. In November 2018 it said that an upgrade to its cement mills was 80% complete.