Arabian Cement Co. Ltd. ARCCO

33.24 0.67 2.05 %

Arabian Cement postpones Rabigh grinding operation

(10/13/2017 10:08:00 PM)

Arabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17.

Construction on the project is still ongoing and according to a statement to the Saudi Stock Exchange, the delay is attributed to the contractor who does not commit to the scheduled deadline. The financial impact of the new facility is difficult to determine as it depends on supply and demand in the cement market, said the Saudi cement producer.

Arabian Cement Co signed a SAR362m (US$96.5m) agreement in 2015 with China National Building Material Co (CNBM) to supply electrical and mechanical equipment to the new Rabigh works.

CemNet.com