Latest news with #SinomaInternational
Zawya
2 days ago
- Business
- Zawya
Saudi's Qassim Cement awards $298mln EPC contract for new production line
Qassim Cement Co. has signed an engineering, procurement, and construction (EPC) contract with Sinoma International Engineering Co. to establish a fourth production line at its plant site in Buraidah. The 24-month contract is valued at $298 million (1.12 billion Saudi riyals), the company said in a statement to the Saudi stock exchange on Sunday. The new line will have a production capacity of 10,000 tonnes of clinker per day. The project is designed to replace certain outdated, low-efficiency production lines by incorporating the latest technological advancements in the field, CEO Omar Al-Omar said. This initiative aligns with the Kingdom's objectives to enhance energy efficiency and promote environmental sustainability, he added. (Editing by Anoop Menon) (
Argaam
5 days ago
- Business
- Argaam
Qassim Cement inks SAR 1.1B deal to build 4th production line
Qassim Cement Co. signed today, Aug. 14, an engineering, procurement, and construction (EPC) contract worth $298 million (almost SAR 1.12 billion) with Sinoma International Engineering Co. to establish a fourth production line at its plant site in Buraidah. The new line will boast a production capacity of 10,000 tons of clinker per day, the Saudi-listed cement producer said in a statement to Tadawul. The turnkey EPC contract Is valid for 24 months. The project will be enabled by the latest technologies in cement industry, according to Qassim Cement. There are no related parties to the deal, it added. The project is designed to replace certain outdated, low-efficiency production lines with a modern, advanced line. This initiative aligns with the Kingdom's objectives to enhance energy efficiency and promote environmental sustainability, said CEO Omar Al-Omar. He further stated that the project aims to optimize the utilization of the existing plant infrastructure and marks a pivotal contribution to the company's sustainable growth strategy—focused on maximizing shareholder value, meeting domestic demand, and diversifying product offerings in accordance with Saudi's Vision 2030.
