Sunday 16 December 2018
 
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Saudi cement sector likely to see revenue drop in Q2

Saudi Arabia’s cement sector is expected to witness a drop in revenue in the second quarter (Q2) of the year, according to a report released by Al Rajhi Capital, a leading financial services provider in the kingdom. The comp

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Saudi cement inventories down in January

Saudi Arabia's cement industry witnessed a slight drop in the inventories in January, (down 1.3 per cent month-on-month (m-o-m), the first such decline since April 2017, mainly due to a 25 per cent year-on-year (y-o-y) plunge in clinker prod

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Saudi cement inventories down in January

Saudi Arabia's cement industry witnessed a slight drop in the inventories in January, (down 1.3 per cent month-on-month (m-o-m), the first such decline since April 2017, mainly due to a 25 per cent year-on-year (y-o-y) plunge in clinker prod

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Saudi cement firm inks Islamic finance deal

Saudi-based Umm Al Qura Cement Company has signed a key Islamic financing agreement with Riyad Bank to secure a SR50 million ($13.3 million) loan. The loan will be used for funding an increase in working capital as well as the cap

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Iraq cement plant expansion to complete in Q3

Pakistan-based Lucky Cement, a leading cement producer, has revealed that the first phase of the brown-field expansion of its cement grinding unit in Iraq is expected to come online by October 2017, said a report. It will have a c

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Saudi panel approves suspension of steel export duty

Saudi Arabia's Ministerial Provisioning Committee has approved the suspension of duty on steel export for two years and cut fees on cement export by 50 per cent. This move is a part of the new mechanism to encourage local prod

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Tanfeedh supports coal power for Duqm cement plants

Oman’s National Programme for Enhancing Economic Diversification (Tanfeedh) is advocating the use of coal-fired captive power capacity to support the development of new cement plants in the Special Economic Zone (SEZ) at Duqm, said a repor

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Omani cement giants set up new JV

Two of Oman’s leading cement producers Raysut and Oman Cement Company have joined hands to form a new venture - Alwasta Cement Company - to cater to a growing regional market, said a report. Raysut Cement recently revealed i

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Omani cement giants set up new JV

Two of Oman’s leading cement producers Raysut and Oman Cement Company have joined hands to form a new venture - Alwasta Cement Company - to cater to a growing regional market, said a report. Raysut Cement recently revealed i

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Saudi cement sales down 16pc in January

Total cement sales in Saudi Arabia fell 16 per cent year-on-year to 4.78 million tonnes in January, highlighting a weak demand on an annual basis, said a report by top Saudi lender Al Rajhi Capital. However, the sequential 11.3 pe

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