Yamama Cement has secured SAR1 billion (US$266 million) to fund the construction of a new cement plant, the company said in an announcement to the Saudi Stock Exchange (Tadawul). The plant will have capacity of 20 000 tpd of clinker.
Jeddah-based National Commercial Bank will provide SAR750 million. Riyadh-based Samba Financial Group will provide the remaining SAR250 million.
In November 2015, the Saudi Arabian cement company signed an SAR4.3 billion contract with thyssenkrupp Industrial Solutions for the provision of the plant, which will be built around 80 km east of Riyadh. At the time, it was the largest cement contract secured by the German engineering firm.
Read the article online at: https://www.worldcement.com/africa-middle-east/04012017/yamama-cement-secures-financing-for-new-plant/
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