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Article: Cement firm building capacity.
- Article from:
- Gulf Industry
- Article date:
- June 1, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(Image: ArabianCement.jpg )
A recent increase in the companyCOs paid-up capital will help Arabian Cement Company to finance to some extent the build-up of capacity through an expansion at its Saudi plant and implementation of a greenfield project in Jordan.
Arabian Cement raised SR500 million ($133.56 million) through a rights issue, increasing the companyCOs paid-up capital to SR800 million. The company produces ordinary Portland cement, sulphate resistant cement and Portland pozzolan cement. Its current production capacity is 2.6 million tonnes of clinker and 3 million tonnes of cement. It is expanding its annual capacity at Rabigh, which will rise to ...