Displaying items by tag: UAE

UAE: India's JK Cement has revealed that its plant in Fujairah, UAE is due to reach full production capacity by 2017. At full capacity the plant will be able to produce 0.6Mt/yr of cement.

The plant is unusual in that it can produce both grey and white cement from the same kiln. The expansion of the UAE plant's production capacity is in line with increased demand for white cement in the Middle East, according to JK Cement’s Ajay Mathur.

UAE: Everest Industries of India is set to start production from its first overseas greenfield facility in the UAE in the first quarter of 2016, according to a company statement.

"The facility will be used to manufacture fibre cement boards and cater to our export markets in West Asia and Africa," said Manish Sanghi, Managing Director. Set up at an investment of US$150m, it will be able to produce up to 72,000t/yr of cement fibre boards.

UAE: Ras Al Khaimah Cement Company has reported a decline in its net profit for the first half of 2015 to US$0.67m from US$0.86m in the same period of 2014.

UAE: Ras Al Khaimah (RAK) Cement has bought back nearly 321,500 of its shares on the Abu Dhabi Securities Exchange, at prices between US$0.24 – 0.25/share. The number of repurchased shares has reached 9.187 million, while the number of remaining shares amounts 46.7 million. RAK Cement posted net earnings of US$667,002 for the first six months of 2015, compared with US$857,574 a year earlier.

UAE: Gulf Cement Company has reported a 29.3% profit drop to US$48.4m in the first half of 2015 compared to US$12m in the same period of 2014. Profits grew to US$4.29m in the first half of 2015 from US$2.53m in 2014. Gulf Cement had previously reported profits of US$4.12m in the first quarter of 2015 compared to US$14.4m in the same period of 2014.

UAE: Union Cement has reported an 8% decline in its profits for the first six months of 2015 to US$14.9m from US$16.2m in the sale period in 2014. Union Cement's revenue fell by 3.7% to US$85.7m in the first half from US$88.9m. The cement producer attributed the decline to falling sales volumes during the reporting period.

UAE: A report from Technavio suggests that cement exports from the UAE will decline in the four years to 2019 as a resurgence of building in the country takes hold.

The government will invest US$700bn over the next 15 years towards infrastructure development. As well as the Dubai EXPO 2020 and UAE National Vision 2021, major investments will be directed towards transport and power infrastructure projects, with the cement market forecast to grow by a compound annual growth rate of 7.56% in the period to 2019.

UAE: According to a Companies and Markets report, after the economic downturn of 2008 - 2009, the cement market in the UAE is showing a positive rebound and is expected to grow by 7.56%/yr in 2014 - 2019.

The UAE is currently producing double its cement demand. Over 50% of the cement produced in the UAE is exported to Oman, Egypt and other African countries. However, analysts believe that in the coming years the cement export share will decline to meet the growing domestic demand.

The growth of the cement market in the UAE is being primarily led by a surge in construction investment because of the revival of economy. The government will invest US$700bn in the next 15 years towards the infrastructure development in the country. Ahead of Dubai EXPO 2020 and UAE National Vision 2021, major investment will be directed toward transport and power infrastructure.

UAE: According to UAE Interact, the UAE's Ministry of Environment and Water has conducted field inspections at cement plants to determine their compliancy with national standards. A team of specialists from the external audit sector conducted both scheduled and surprise visits to nearly 20 cement plants as part of their annual evaluation process for ensuring complete implementation of the legislation. Saif Al Shara, assistant undersecretary of the UAE Ministry of Environment and Water's external audit sector, said that the latest assessment results show that the plants adhere to 60% of category A national standards, up from their 39% compliancy in 2013. For category B, cement plants complied with 35% of standards, compared to 33% in 2013. Finally, for category C, compliance fell from 17% in 2013 to 5%.

UAE: Fujairah Cement Industries (FCI) has reported a 51% surge in its net profits for the first quarter of 2015 to US$2.2m compared to US$1.47m in the corresponding period of 2014. FCI previously posted a net profit of US$7.02m for the entirety of 2014 against a net loss of US$3.32m in 2013.