The board of Yanbu Cement gave the go-ahead for building a power plant with China's Sonoma through using the thermal energy wasted from the manufacturing process, said the company in a bourse statement.

The cement producer added that the plant establishment will start as of 18 March.

The project, whose cost reaches SAR 231.75 million, will be financed by the National Commercial Bank (NCB).

The project is expected to be finalized on 4 January 2017.

The relevant financial impact will materialize as of 4 January 2017.