42.8000
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Change %
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Open
43.0000
Close
42.8500
High
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Arabian Cement to finalize construction of plant mills in Q3-19

2018-11-19 15:04:29 GMT (Economies.com)
 

Arabian Cement Company announced it is continuing with the construction works in its cement mills at the company's factory in Rabigh.

The delay in operating was due to the failure of the contractor to meet the schedule, the company explained in a statement to the market on Monday.

The company expects the project to be completed during the third quarter of 2019, and commercial operation to kick off during the fourth quarter of 2019.

As for the second phase relating to the engineering, supply and construction of the clinker production line, the company said that the project study is still ongoing and would be announced and any further updates later on.

In October 2017, the cement producer expected commercial operations to start in the third quarter of 2018, instead of the fourth quarter of 2017.

It announced in November 2016 that it expected commercial operation of the project to start in the fourth quarter of 2017 instead of the first quarter of 2017.

The company reported a net profit of SAR 14.4 million in the third quarter of this year, compared to a net profit of SAR 29.5 million in the corresponding quarter of 2017.

Meanwhile, It suffered a loss of SAR 42.5 million during the first nine months of 2018, against a net profit of SAR 165.6 million in the corresponding period of 2017.

 
 
 
  Symbol Last Change Chg.%
1.2058
0.0032
0.2690%
1.3879
-0.0074
0.5275%
Tadawul
10127.90
18.31
0.18%
26.028
0.236
0.917%
61.609
-1.569
2.483%
65.61
0.23
0.35%
1783.525
12.075
0.682%
 
 
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