Displaying items by tag: Hail

Saudi Arabia: Hail Cement has announced a net loss of US$7.1m, the third consecutive year with a net loss, although it reduced its loss from US$10.9m in 2011. Hail reported a 29.5% drop in revenue to US$391,635 and negative operating cash-flow.

UAE: Ras Al Khaimah Cement made a net loss of US$2.0m during the whole of 2012 despite a 15.1% increase in its revenue to US$60.5m. 2012 was the third year in five that the company made a loss. In 2011 the company made a net loss of US$5.4m.

Saudi Arabia: On 2 January 2012 Saudi cement producer and trader Al Jouf Cement announced that it is set to invest US$236m on the construction and commissioning of a second production line in addition to a dedicated power plant. The new production line will have a capacity of 5000t/day. The project, to be financed with a combination of own funds and debt, will take 25 months to complete.

Meanwhile, Hail Cement Company has obtained a large single order for its cement, having signed a US$31.2m joint-venture housing contract with Teberak Trading and Contracting Company and Mo B. Co. for Civil Construction. The 80,000m², four-phase project will be built around 220km north of the northern city of Hail and will be completed within 18 months.