GulfBase Live Support
Commercial start-up of new cement mills at Arabian Cement Co.’s Rabigh plant has been delayed to 3Q18. The mills had been expected to go into operation in 4Q17 but construction work is still ongoing.
The delay is “due to the contractor’s failure to comply with the timetable,” the company said in a release to the Saudi Stock Exchange.
The second-phase of the project – which will see the engineering, supply, and construction of a clinker production line – is still under review, the company added. A decision will be made following the ongoing project study.
This is the latest delay to hit the project, which had been due to start-up in 2Q16. This was later delayed to 1Q17 before the latest push back to the schedule. Chinese engineering company, CNBM, was originally awarded the contract for construction of the mills in April 2015.
Arabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17.
Construction on the
Arabian Cement said it has entered into potential merger talks with Al Safwa Cement, a key Saudi-based firm owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation for Soci
Arabian Cement Co.’s EGM held on Tuesday 01/04/2014 has approved the capital increase via bonus shares.Thus, the addition shares have been deposited into the investor’s portfolios and The fluctuation
International credit rating agency, Standard & Poor’s (S&P) has revised the outlook on Qatar Islamic Bank (QIB) to ‘stable’ and affirmed the ‘A-/A-2’ issuer credit rating.
According to the
National Bank of Fujairah (NBF) announced that NBF Islamic has retained the ‘Best Islamic Window — UAE’ accolade for the third consecutive year at the Islamic Business and Finance Awards 2018.
The Gulf Today
UAE-based Goldilocks Investment Company said it has reached an agreement with Gulf Navigation Holding, a leading maritime and shipping company based in Dubai, to acquire a 18.32 per cent stake in the
Agility Public Warehousing Company (KSC) announced Monday investing $100 million for the next three years in logistic technology sector, via launching a digital platform to manage electronicallylinke
ALINMA Bank hosted its first-ever FinTech-focused event at the Four Seasons hotel in last Dec. 3, 2018. The gathering was hosted by the bank in partnership with FinTech Saudi and Alinma Investment Co