Displaying items by tag: City Cement Company

Saudi Arabia: The Ministry of Industry and Mineral Resources has congratulated City Cement on achieving the advanced level assessment as part of the Future Factories Program. The program uses the SIRI methodology (Smart Industries Readiness Index), which represents the global index adopted by the country to measure how industrial plants are adopting digital developments, such as interconnectivity and software-based automation, with assessments conducted by accredited evaluators. The government is promoting the initiative to raise industrial efficiency, reduce costs and create jobs.

Saudi Arabia: City Cement’s net profit after Zakat and tax grew by 19% year-on-year to US$29.6m in 2018 from US$24.9m in 2017. It attributed the result to operational efficiency and a settlement it reached in late 2018 with China’s Sinoma International about the construction of a second production line. The cement producer’s sales fell by 36% to US$92m from US$143m due to low demand for cement and local competition.

Saudi Cement: City Cement’s Al Madina Cement subsidiary says it has reached a final settlement with China’s Sinoma International about the construction of a second production line. The parties have agreed an 8% discount on the total cost of the project worth around US$11m. Trial operation on the second line at the plant was originally announced in late 2014.

Saudi Arabia: Saudi City Cement Company has started trial operations of a second production line. Without disclosing any financial details, Saudi City Cement said that the new production line will have a production capacity of 5,500t/day. The trial period will last about four months.

Saudi Arabia: Saudi cement producer City Cement Company has announced that it intends to invest US$6.7m in an alternative energy project. The Chinese engineering company Sinoma will carry out the project, anticipated to be completed by 30 June 2015. Without providing further details on the nature of the project, City Cement said that it will use its own funds and/or Murabaha financing to fund it.

Saudi Arabia: Saudi cement producer City Cement Company has announced that it intends to invest US$29.7m to boost its cement grinding capacity to 265t/hr. The company said that it would use its own funds to finance the expansion. Construction will start on 1 June 2014, with completion expected in February 2016. Commercial production is expected in March 2016.