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News Yanbu Cement

Displaying items by tag: Yanbu Cement

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Saudi cement sales rise 12% in fourth quarter of 2024

21 January 2025

Saudi Arabia: Cement sales increased by 12% year-on-year in the fourth quarter of 2024, reaching 14.87Mt, Arab News reports. Sales were primarily driven by domestic demand, which accounted for 96% of total sales. Exports contributed the remaining 4%, according to data from Al-Yamama Cement. For the full year, cement sales grew by 3.7% to 51.2Mt.

Al-Yamama Cement led the domestic market in the fourth quarter of 2024, with a 13% share and sales of 1.83Mt, up by 22% year-on-year. Qassim Cement, after acquiring Hail Cement, held an 11% share with 1.63Mt of sales. Yanbu Cement, Southern Cement, and Al Jouf Cement followed.

During the same period, Saudi Cement dominated in exports with 0.49Mt, representing 80% of total shipments and a 71% year-on-year increase. Clinker production grew by 7% year-on-year in the fourth quarter of 2024 to 14.9Mt, while clinker exports fell by 28% to 1.15Mt.

Amr Nader, CEO of cement consultancy A3&Co, said “These figures may not fully align with the anticipated surge in demand from ambitious infrastructure projects. Megaprojects such as NEOM, the Red Sea project, and FIFA World Cup-related developments require vast quantities of construction materials. The maximum anticipated demand in the next five years is 78Mt/yr.”

Published in Global Cement News
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Yanbu Cement raises sales in the first half of 2024

31 July 2024

Saudi Arabia: Yanbu Cement recorded an 8% rise in sales year-on-year to US$114m in the first half of 2024. Mubasher has reported that this resulted in a net profit of US$26.1m for the company, up by 14% from its first-half 2023 result.

Published in Global Cement News
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Southern Province Cement and Yanbu Cement to explore merger

24 June 2024

Saudi Arabia: Southern Province Cement and Yanbu Cement have signed a non-binding memorandum of understanding to evaluate a potential merger. The due diligence process will assess various aspects including operational, technical, financial, legal and actuarial factors, according to Mubasher.

The memorandum was signed on 23 June 2024 and is set to expire in 12 months unless a merger agreement is reached beforehand. The feasibility of the merger will depend on agreement on final terms, regulatory approvals and endorsements from both companies' general assemblies.

Published in Global Cement News
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Yanbu Cement hires Mastek to help digitise Yanbu cement plant

24 April 2024

Saudi Arabia: India-based software company Mastek has secured a contract for the comprehensive digitisation of production lines at Yanbu Cement’s plant in Yanbu. Capital Market News has reported that the planned optimisation will help to raise the efficiency of the plant. Yanbu Cement previously embarked on a programme of ‘digital and cloud transformation’ with Mastek in 2022. The partners say that their collaboration aligns with Saudi Arabia's Vision 2030 and Smart Industry 4.0 decarbonisation initiatives.

Published in Global Cement News
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Update on Saudi Arabia, January 2024

10 January 2024

Eastern Province Cement said this week that it had awarded a new production line project to Sinoma CDI. The subsidiary of China-based CNBM Group and Sinoma International Engineering has picked up the contract to build a 10,000t/day plant from design to installation at the cement producer’s Al Khursaniyah plant. Word on project finance is to follow later and the contract should be signed by the end of March 2024. The cement company last mentioned the project to the Saudi Exchange back in March 2023, when it suggested that it was focusing on upgrading existing lines at its Al Khursaniyah plant rather than building a brand new clinker plant at Najibiyah. The plans for the latter project date back to 2015. Eastern Province Cement holds limestone extraction licences in both locations.

It is worth noting that the last couple of new conventional production line projects announced in Saudi Arabia have been picked up by Sinoma International Engineering and related companies. Sinoma International Engineering won an engineering, procurement and construction (EPC) contract to build Southern Province Cement's upcoming Jizan cement plant in May 2023. This followed the awarding of a new 10,000t/day line by Yamama Cement, also to Sinoma International Engineering, in November 2022. However, Germany-based IBAU Hamburg was confirmed by Hoffmann Green Cement Technologies (HGCT) in September 2023 as being the company that would build a ‘clinker-free’ cement plant in Saudi Arabia in 2024. This will be a copy of HGCT’s H2 plant in France, which uses a combination of activated clay, ground granulated blast furnace slag (GGBFS) and gypsum to manufacture its products. HGCT has signed a deal with Shurfah Group to build several Hoffman plants under a 22-year exclusive licensing agreement.

Arguably though, despite all these new plant news stories, the bigger issue so far this year was Saudi Aramco's decision to raise its feedstock and fuel prices from the start of 2024. Several Saudi cement producers released warnings in response that production costs would rise and earnings would fall. Al Jouf Cement, Arabian Cement, Qassim Cement, Saudi Cement, Yamama Cement and Yanbu Cement each made statements to shareholders on the issue, saying that they were working out the impact, would announce what this might be when known and that it was likely to make a difference from the first quarter results onwards.

The timing of Aramco's price hike is poor given that after a tough year, with falling sales for some producers, demand was expected to pick up somewhat. Aljazira Capital, for example, in a cement sector report released in late December 2023, forecast a 3% year-on-year increase in cement sales volumes in 2024 following an estimated fall of 8% in 2023. Its reasoning was that the domestic housing construction market had declined in 2023, leading to high levels of competition in the central region of the country caused by high levels of company inventory. Looking ahead, the competition was expected to ease as more projects were generated outside the central region and demand from the country’s various large-scale infrastructure plans took off. We will have to wait for Aljazira Capital’s next report to find out how they think the market will cope with higher fuel costs, but it seems likely that business may remain tougher than expected for the cement producers in the short term at least.

Finally, one more story to consider is that Al Jouf Cement signed a deal with Rabou’ Al-Taybeh Company this week to export cement and clinker to Jordan. The initial period covers six months with the option for renewal. Up until 2022, at least, clinker exports from Saudi Arabia were growing most years since the export rules were relaxed in 2017. With a difficult market reported domestically in 2023, the appetite to focus on exports may be growing and this could be a sign of that. Another example this week of Saudi-based cement companies looking outside the domestic market could be detected when Northern Region Cement said it had sold a 49% stake in its Iraq business to Al-Diyar Al-Iraqia for Investments Company. The cement company said that the new strategic partnership would help it to further expand its investments in the promising market. It will use the proceeds of the deal to repay loans and for ‘external investments.’ It valued the transaction at just under US$44m. For more on what Northern Region Cement and others have been up to in Iraq, see Global Cement Weekly’s analysis from November 2023.

The steady stream of new clinker production lines suggests confidence in the cement sector in Saudi Arabia in the medium to long term. It is also fascinating to witness a secondary cementitious material plant like the one HGCT is planning on the way too. Unfortunately though, the recent fuel price rise looks like it might ruin the party in the short term for those hoping for better things in 2024.

The 26th Arab International Cement & Building Materials Conference and Exhibition takes place in Cairo on 15 - 17 January 2024. Visit Global Cement at stand N3

Published in Analysis
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Saudi Arabian cement producers’ costs grow following rise in fuel prices

04 January 2024

Saudi Arabia: Utilities provider Saudi Aramco has notified Saudi Arabian cement producers of a rise in the price of its feedstock and fuel products from 1 January 2024. Zawya News has reported that Saudi Kayan Petrochemical Company forecast the effect of the price rise to be a 1.2% increase in producers’ cost of sales in 2024.

Yanbu Cement said “The impact of changing the price of fuel products will lead to an increase in the cost of production.” Umm Al-Qura Cement echoed the concern, while Saudi Cement Company said that it is working out the extent of the financial impact and will study ways to mitigate it.

Published in Global Cement News
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Yanbu Cement reports declining sales in first nine months of 2023

01 November 2023

Saudi Arabia: Yanbu Cement’s sales were US$156m during the first nine months of 2023, down by 21% year-on-year. Its net profit also dropped in the period, by 35% to US$27.1m.

Published in Global Cement News
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Fahd bin Sulaiman Al-Rajhi appointed as chair of Yanbu Cement

12 July 2023

Saudi Arabia: Yanbu Cement has appointed Fahd bin Sulaiman Al-Rajhi as its chair following an ordinary general assembly. Mohammed bin Abdullah Al-Khereiji has also appointed as vice chair and Nabil bin Mohammed Baghdadi as secretary to the board of directors. The term of each position will last for three years, to late June 2026.

Published in People
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Saudi Arabian competition regulator fines cement producers US$37m for price fixing

12 April 2023

Saudi Arabia: The General Authority for Competition (GAC) has fined 14 local cement producers around US$37m for price fixing. The companies were found to have broken local competition law following an investigation by GAC. They are now each liable for a US$2.7m penalty. The producers concerned are: Al-Safwa Cement; Al-Madina Cement; Umm Al-Qura Cement; Al-Jawf Cement Company; Qassim Cement; Najran Cement; Southern Province Cement; United Industrial Cement; Yamama Cement; Riyadh Cement (Saudi White Cement); Arabian Cement; Saudi Cement; Yanbu Cement; and Hail Cement.

Published in Global Cement News
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Yanbu Cement participates in largest ever Saudi Arabian carbon credit sale

14 November 2022

Saudi Arabia: Yanbu Cement was among successful bidders in Saudi Arabia's largest carbon credit auction to date earlier in November 2022. The Saudi Public Investment Fund (PIF)’s Voluntary Carbon Market Initiative Auction sold 1.4Mt-worth of carbon credits to 15 different entities, of which Yanbu Cement was the only cement sector representative. The PIF said that the sale will support the country's Saudi Vision 2030 development goal, while also advancing its progress towards net zero CO2 emissions by 2060.

Published in Global Cement News
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