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03/04/2014 19:45 AST
Saudi Arabia's Southern Province Cement Company (SPCC) and the National Commercial Bank (NCB) have entered into an SAR700 million financing agreement, lasting for a period of five years. The agreement was signed in Riyadh by Prince Abdullah bin Musa'ad bin Abdul Rahman, Chairman of SPCC, and Mansour S. Al Maiman, Chairman of NCB, in the presence of officials from both companies.
The five-year financing facility will be used to fund SPCC's capital expansion and expenditures in Saudi Arabia and develop general operational activities, production capacity and company efficiency. The funding agreement represents part of NCB's vision to meet the requirements of economic growth in the country through financing and developing key institutional and industrial sectors, such as the cement industry.
During the signing, Al Maiman stated that the financing was consistent with NCB's vision to support the vital sectors of the Saudi economy. The bank has plans to continue financing large, medium and small enterprises in the country in order to encourage development in all economic productive sectors. Al Maiman further noted that the bank provided around SAR121 billion to support the corporate sector in 2013, a 13% y/y increase compared to 2012.
World Cement
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Southern Province Cement Company has announced that steady progress is being made on its new cement plant in the Saudi city of Jazan with work on most phases of the clinker production line already co
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Southern Province Cement Company has announced that it has entered into a non-binding agreement with a leading Saudi cement group Yanbu to explore a potential merger.
The duo had an year ag
Trade Arabia
14/01/2014
Net profit of Southern Province Cement Company (SOCCO) during the 4th Q 2013 amounted to SAR 254 million; the company recorded the same amount of profit in the same quarter of last year.
Gro
Gulfbase.com
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 59.55 | 0.00 (0.00 |
| SABIC | 54.95 | 0.00 (0.00 |
| SABICAGRINUTRIENTS | 116.00 | 1.00 (0.86 |
| YANSAB | 30.42 | -0.10 (-0.33 |
| LUBEREF | 94.70 | 0.75 (0.79 |
06/02/2026
Over three days at the Kuwait Oil & Gas Show and Conference (KOGS 2026), National Bank of Kuwait took part in dynamic networking activities, expert-led discussions, and targeted knowledge-sharing eng
Kuwait Times
06/02/2026
AD Ports Group, a leading global enabler of integrated trade, industry and logistics solutions, on Thursday signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to manage an
Trade Arabia
06/02/2026
NMDC Group, a global leader in engineering, procurement, construction and marine dredging, today announced a strong set of financial results for 2025, reporting revenues of AED28.8 billion ($7.84 bil
Trade Arabia
05/02/2026
Invest Qatar, the Investment Promotion Agency of Qatar, and Doha Bank have announced a strategic partnership aimed at further enhancing the ease of doing business for foreign investors entering the Q
Gulf Times
05/02/2026
In celebration of Kuwait's national holidays, in which the country commemorates its beautiful history and achievements, National Bank of Kuwait announced a limited-edition issuance of KWD Visa Prepai
Kuwait Times
Financial Information Co.
Saudi Arabia