Displaying items by tag: Tabuk
Tabuk Cement acquires export license
17 March 2017Saudi Arabia: Tabuk Cement says it has obtained an export license from the Ministry of Commerce and Investment. The licence will be valid for one year, according to Mubasher. Sales volumes of cement fell by 25% year-on-year to 4Mt in February 2017.
Tabuk Cement appoints new chairman
01 February 2017Saudi Arabia: Tabuk Cement has appointed Saeed Bin Saeed Obaid as its new chairman. He succeeds Khalid Bin Saleh Al-Shathry.
Tabuk Cement delays opening of second clinker line to 2017
30 September 2016Saudi Arabia: Tabuk Cement says that its second clinker production line is expected to be commercially operational in the second quarter of 2017. The revised opening date is a delay from the original announced date of the third quarter of 2016. The cement producer has blamed the delay on ‘irregular non-compliance with the required capacity and specification’ of the second line. It added that the company will not incur additional costs due to the hold-up.
Saudi Tabuk Cement appoints director general
07 January 2015Saudi Arabia: The management board of Tabuk Cement Company has appointed Ali al-Asmari as director general, effective as of 1 January 2015. Al-Asmari, who joined Tabuk Cement in 1996, has held various positions within the company's management, including head of quarries, factory director and deputy director general.
Tabuk Cement posts US$28.5m net profit in first half of 2013
10 September 2013Saudi Arabia: Tabuk Cement Company has reported a net profit of US$28.5m for the first half of 2013, a slight rise from US$28.2m in the same period in 2012. Tabuk Cement attributed the rise to rationalisation of expenses. The cement producer's operating profit fell by 3% year-on-year to US$28.1m from US$29.0m.
Tabuk Cement Company announces the resignation of Director-General and appointed Director-General of the company
07 August 2013Saudi Arabia: Tabuk Cement Company has announced the resignation of its director general Isa bin Baissy. He will work at the cement producer until 9 September 2013. His successor, Ali bin Mhmiaa Asmari, has worked with the company since 1996 as head of quarries, then director of the cement plant and deputy general manager.
Saudi Arabia: A second clinker line and a new power plant are being planned by Tabuk Cement in Saudi Arabia. The new 5000t/day cement production line will be designed, built and installed by Chinese company CDI, after winning the contract in a deal worth US$141m. Caterpillar is to provide a 30MW power plant, while Veolia won a US$9.5m contract to provide a new water treatment plant capable of processing 1500m3/day.
A combination of bank loans and the company's own resources will be the base for finance of this project, which is anticipated to be commissioned in the third quarter of 2015. If this is achieved, the total duration of the project would be just 26 months. Full commercial production is anticipated to start in the fourth quarter of 2015.
A cement shortage has been faced by Saudi Arabia in recent months. In April 2013 King Abdullah bin Abdulaziz issued an order to import 10Mt of cement into the country. At the same time, a Royal Directive called for new cement plants to be built in the Kingdom in order to make up the shortfall. Meanwhile, Eastern Province Cement Co. and Najran Cement have announced expansion plans and City Cement Company is currently trialling its new third production line.
Tabuk profit up by 38%
04 March 2013Saudi Arabia: Tabuk Cement Company has registered an increase in net profit to US$50.4m in 2012, up from US$36.5m in 2011. This represents a year-on-year increase of 38%. Tabuk Cement attributed the rise to higher sales prices coupled with increased production efficiency.