Displaying items by tag: Saudi Arabia

Saudi Arabia: Al Jouf Cement has signed a six-month technical contract with China’s Riga Company to convert its second production line to produce white cement. The contract was signed to coincide with the arrival of the project team that will handle the conversion. No value for the upgrade has been disclosed.

Saudi Arabia: Najran Cement has received a licence to export clinker from the Saudi Ministry of Commerce and Investment. The licence is valid for a year from 4 September 2019.

Saudi Arabia: Najran Cement has appointed Mohammed Bin Manaa Bin Sultan Aballa as its new chairman. He will be supported by Salah Bin Yassin Bin Khalil Allaf as the deputy chairman. Abdul Salam Bin Abdullah Bin Abdulaziz Alduraibi has also been appointed as a managing director at the cement producer.

Saudi Arabia: Yanbu Cement’s sales revenue grew by 14% year-on-year to US$128m in the first half of 2019 from US$110m in the same period in 2018. Its net profit after Zakat and tax more than doubled to US$30.1m from US$12m. The cement producer attributed this to higher prices and growing clinker exports.

Saudi Arabia: Southern Province Cement’s sales revenue rose by 37% year-on-year to US$165m in the first half of 2019 from US$121m in the same period in 2018. Its net profit after Zakat and tax grew by 53% to US$56.3m from US$36.8m.

Saudi Arabia: Saudi Cement’s sales revenue rose by 26% year-on-year to US$194m in the first half of 2019 from US$154m in the same period in 2018. Its net profit after Zakat and tax grew by 12% to US$59.9m from US$53.4m.

Saudi Arabia: Total exports of cement have reached 25Mt since the export rules were relaxed in mid-2017. Abdul Rahman Hussein, from the Ministry of Trade and Investment, said that the government is now planning to charge fees on exporters after a two-year tax holiday, according to the Aliqtisadia newspaper. He noted that the ministry has approved 53 cement export licences. 22 of these have been issued during the current year.

Saudi Arabia: Najran Cement’s sales rose by 20% year-on-year to US$48.7m in the first half of 2019 from US$40.6m in the same period of 2018. Its net profit after Zakat and tax was US$0.92m, after a loss previously. It attributed its increased sales and profit to higher sales volumes, better pricing and reduced production costs.

Saudi Arabia: Tabuk Cement’s sales revenue grew by 29% year-on-year to US$30.4m in the first half of 2019 from US$23.5m in the same period in 2018. It attributed the sales growth to improved prices despite poor sales volumes. It reported a net profit after Zakat and tax of US$3.4m for the half, after a loss of US$0.27m in the first half of 2018.

Saudi Arabia: Najran Cement has renewed its clinker export licence. It is valid for one year from 9 July 2019.