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Saudi cement companies post $237 9mln net profit in Q1 2021

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Saudi cement companies post $237 9m net profit in Q1 2021

RIYADH: Saudi cement companies listed in the main market during the first quarter of this year 2021 achieved net profits of SR892.5 million ($237.9 million), compared to about SR1.05 billion for the same period last year, recording about 15 percent decline. Four companies recorded record growth, while the remaining 10 saw a decline, Al Eqtisadiah reported citing Saudi financial market data. Najran Cement recorded the highest growth in net profit with 51.4 percent, while Arabian Cement Co. achieved 48.6 percent growth, followed by Al Jouf Cement, up 15.4 percent. Tabuk Cement posted the biggest decline in net profit, decreasing by 75.6 percent to SR7.1 million. Cement companies’ revenues decreased 1.5 percent during the first quarter of this year to SR2.94 billion, compared to about SR2.98 billion for the same period in 2020. Revenues grew by 2 percent compared with the previous quarter.

FLSmidth to upgrade Arabian Cement s Rabigh plant in 4Q21

FLSmidth to upgrade Arabian Cement s Rabigh plant in 4Q21 30 April 2021 FLSmidth is to deliver a large efficiency upgrade at Arabian Cement Co’s site in Rabigh, Saudi Arabia. The order includes new DDX top cyclones, a quenching chamber and an ABC™ Cooler Inlet. Installation and commissioning is expected to be during the 4Q21.  The Saudi Arabian cement market is highly competitive with increasing demand, we are therefore constantly looking at ways to improve the efficiency at our Rabigh site, explains Dr Badr Osama Johar, CEO at Arabian Cement Co. With FLSmidth having provided the original line, they were the obvious candidate for the upgrade – we wanted a trusted partner, who knows the ins and outs of the plant and are able to secure the success of the upgrade, Dr Johar adds.

Arabian Cement orders Rabigh cement plant upgrade from FLSmidth

Arabian Cement orders Rabigh cement plant upgrade from FLSmidth Written by Global Cement staff 28 April 2021 Saudi Arabia: Arabian Cement has placed an order with Denmark-based FLSmidth for the supply of equipment for an upgrade of its Rabigh cement plant. The order includes new DDX top cyclones, a quenching chamber and an ABC Cooler Inlet. Installation and commissioning is expected to be during the fourth quarter of 2021. Arabian Cement’s chief executive officer Badr Osama Johar said, “With FLSmidth having provided the original line, they were the obvious candidate for the upgrade - we wanted a trusted partner who knows the ins and outs of the plant and is able to secure the success of the upgrade.” The producer previously engaged the company for the supply of its Rabigh plant’s kiln in 2008.

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