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Eastern Province Cement Company announces the signing of a contract with Sinoma CDI, China for the project of establishing a new production line in the company’s plant with a production capacity of 10,000 tons/day
| Element List | Explanation |
|---|---|
| Date of Announcement of the Award | 2024-01-07 Corresponding to 1445-06-25 |
| Contract Subject Matter | Project of establishing a new production line in the company’s plant with a production capacity of |
| The Entity with Which the Contract was Signed | Sinmoa CDI |
| Date of Signing the Contract | 2024-02-29 Corresponding to 1445-08-19 |
| Contract Value | USD 270,528,000 |
| Contract Details | The contract was signed with Sinoma CDI, China on the basis of a complete turnkey contract for design, supply, construction and operation of a cement production line with a capacity of 10,000 tons of clinker per day at the company’s current plant in the Khursaniyah area in accordance with the latest technology in the field of the cement industry. |
| Contract Duration | 26 Months |
| Financial Impact and the Relevant Period | It is expected that this project will contribute to increasing the use of energy efficiency, which will reflect positively on production costs, starting from the date of commercial operation. |
| Related Parties | None |
| Additional Information | On this occasion, the CEO of the Eastern Province Cement Company, His Excellency Engineer Fahd Rashid Al Otaibi, stated that the purpose of this project is to replace some low-efficiency production lines, which will contribute to achieving the Kingdom’s goals to raise the efficiency of energy use. Engineer Fahd explained that the project will be held in The company's current factory is in the Khursaniyah area in order to maximize the benefit from the current plant’s infrastructure. The contract will be based on a full turnkey contract in exchange for the design, supply, construction and operation of a cement production line with a capacity of 10,000 tons of clinker per day in the company's current plant in the Khursaniyah area according to the latest technology in the field of manufacturing. Cement. His Excellency Engineer Fahd concluded his statement: This project is an addition to the strategic growth process pursued by the company, which aims to grow and maximize returns to its shareholders, as well as meet local demand and diversify products in line with the Kingdom’s Vision 2030 we are pleased to extend our sincere thanks for the unlimited support that the company has received from the Ministry of Energy, the Ministry of Industry and Mineral Resources, and all government agencies that support and enable industry in the Kingdom. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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