Saudi Arabia saw cement production increase by 16% in December, at 3.83 million t from 3.31 million t in December 2009. Exports were also up, at 139 000 t, an 8% increase from December 2009’s 129 000 t.
Yamamah Saudi Cement Co, Saudi’s third largest cement manufacturer by market value, has reported that its net profits rose 17% in 2010 as against 2009. The fourth quarter was particularly prosperous, with net profits up 10% y/y and 14% against the previous quarter. After tax gains could have reached as much as SAR657 million according to preliminary reports.
Saudi Arabia has 13 cement companies and produces approximately 49 million tpa. A government-ordered restriction on exports has resulted in decreased profits for the industry and a period of oversupply.
Khaleej Times is reporting that the government of Saudi Arabia has recently awarded contracts worth more than US$149 million to develop water and sanitation projects. This will mean increased cement demand in the country, which is good news for manufacturers there – especially while the export restrictions continue.
Read the article online at: https://www.worldcement.com/africa-middle-east/10012011/saudi_arabian_market_remains_strong-/