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Tabuk Cement Company receives funding for expansion

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World Cement,


Tabuk Cement Company has received a credit worth SR500 million to support the expansion of its cement plant. The agreement was signed with Bank Albilad and will help to fund the second phase of construction of a new production line at the 5000 tpd plant. The rest of the project is self-financed.

Saudi Arabia’s cement industry is under pressure to increase capacity as the Kingdom is undergoing a construction boom. Reports suggest some US$30 billion will be spent on cement over the next two years, giving rise to a wave of expansions across the Kingdom as well as increased imports. Tabuk Cement Company plans to begin commercial production of the new line in 4Q15. Based on a feasibility study, the company believes the expansion will meet the cement demand of Tabuk and neighbouring areas. The project includes a clinker production line, power station and desalination plant.

Edited from various sources by


 

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