Displaying items by tag: Saudi Arabia

Saudi Arabia: Southern Province Cement has appointed Aqeel bin Fateis bin Saeed Kadsa as its chief executive officer (CEO). He was assigned to the position in July 2020. He holds a degree from the King Fahd University of Petroleum & Minerals and joined Southern Province Cement in 1997. Most recently he worked as the Executive Vice President for Manufacturing Services.

Saudi Arabia: Northern Region Cement has begun oil well cement production at its 2Mt/yr-capacity Arar integrated cement plant in Northern Borders Province. Mubasher News has reported that the company will begin sale of the cement in early 2021. The American Petroleum Institute (API) has certified the product.

Saudi Arabia: The 25th Arab International Cement Conference and Exhibition (AICCE) in Riyadh, Saudi Arabia, has been postponed from 1 – 3 December 2020 to a later date to be announced in due course. The cause of the postponement is the impacts of the coronavirus. Arab Union of Cement and Building Materials secretary general Ahmad Al-Rousan said, “For health and safety reasons for all delegates, exhibitors, and speakers, and in order to provide all participants with a reliable basis for planning, we see this rescheduling of the event as the most responsible conclusion.”

Saudi Arabia: Southern Province Cement has appointed Aqeel Futis Kadasa as its chief executive officer (CEO) following the resignation of Safar Mohammad Dhufayer. Kadasa holds a degree in chemical engineering from King Fahd University of Petroleum & Minerals and has over 25 years of working experience. He started his work at Yamama Cement, then worked in the Saudi Electricity Company in the Department of Engineering Services and later joined Southern Province Cement in 1997.

Saudi Arabia: Yanbu Cement has appointed Fahd Bin Soliman Al Rajhi as its chairman. Mohammed bin Abdullah Al-Khuraiji was appointed vice-president of the board of directors and Sharif Bin Abdul Karim Al-Itani was appointed as the secretary.

Saudi Arabia: Najran Cement has announced that it has completed the repayment of a US$12m loan from Banque Saudi Fransi. Mubasher news has reported that the loan had been due for repayment in instalments in the first half of 2020. The cement producer retains US$94.6m in outstanding loans.

Bangladesh: Bangladesh Chemical Industries Corporation (BCIC) and Saudi Arabian-based Engineering Dimension International Investment (EDII) have formed a joint-venture called Saudi Bangla Integrated Cement in order to build a new integrated cement plant. The proposed unit will have a clinker production capacity of 12,000t/day, according to the Dhaka Tribune newspaper. It will be supplied with limestone from Meghalaya in India via a long conveyor belt. If realised the project is expected to create up to 700 direct and indirect jobs. Government-owned BCIC previously signed a partnership agreement with EDII in late 2018.

Saudi Arabia: Saudi Cement has reported sales worth US$39.3m in the first quarter of 2020, up by 12% year-on-year from US$35.3m in the corresponding period of 2019. Sales grew by 15% year-on-year to US$120m from US$104m. The company attributed the increased profit margin to greater demand, which offset higher general, administrative, selling and distribution expenses.

Saudi Arabia: Saudi Cement has appointed Saleh Bin Muhammad Al Muhanna as a director. He will suceed Ahmed Bin Muhammad Al-Omran in the role with effect from 1 June 2020. Al-Muhanna is currently the Director of Research and Studies Administration at the Public Institution for Social Security. He holds a master’s degree in actuarial science from the University of Connecticut, US and a bachelor’s degree in mathematics from King Saud University.

Saudi Arabia: Najran Cement Company has signed a financing agreement with Bank Al-Jazira for a loan of US$94.5m. Under the agreement, repayments are to be made at a rate of US$13.6m/yr for four years, and the remaining amount settled in the final year of the financing period ending 2025.