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Further delay to Rabigh plant mill construction
(Cement World - 19/10/2017)

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

Al Jazira Capital maintain “Neutral” recommendation on Yamama Cement
(GulfBase - 18/10/2017)

Yamama Cement 3Q2017 net income of SAR 29.2mn (EPS, SAR 0.14) came above Al Jazira Capital estimates, which was mainly attributed to higher than expected selling price, indicating a deviation of 35.0% from the market consensus of SAR 21.59mn. Other

Al Jazira Capital recommended Qassim Cement “Overweight”
(GulfBase - 16/10/2017)

Higher than expected net income of SAR 51.2mn (EPS; SAR 0.57) for 3Q2017, indicating a decline of 26.2%YoY and 3.7%QoQ. Revenue came in line with our estimates; however, production cost came blow our estimates by 4.8% . Deviation in net income is mainly

Arabian Cement postpones Rabigh grinding operation
(CemNet.com - 13/10/2017)

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 project is still ongoing and according to a statement to the Saudi

Saudi cement firm inks Islamic finance deal
(Trade Arabia - 12/10/2017)

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 capital purchases, the

Saudi group eyes Al Safwa Cement merger
(Trade Arabia - 08/10/2017)

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 Social Insurance (GOSI). The biggest reason for Arabian

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