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Eastern Province Cement inks $270.5m contract with China’s Sinoma CDI

Eastern Province Cement inks $270.5m contract with China’s Sinoma CDI
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Riyadh – Mubasher: Eastern Province Cement Company signed the Fifth Line project contract with leading Chinese cement company Sinoma CDI, valued at $270.52 million.

The project will have a production capacity of 10,000 tonnes of clinker per day, according to a press release.

The contract encompasses engineering, supply, construction, installation, testing, operation, and training of operation and maintenance personnel on a complete turnkey basis.

Fahd bin Rashid Al-Otaibi, CEO of Eastern Province Cement, stated that the project aims to replace some low-efficiency production lines.

He added that the project will be implemented in the company’s current factory in the Khursaniyah area.

Al-Otaibi highlighted that the project seeks to maximise returns for the company’s shareholders by boosting energy efficiency, enhancing the company’s ability to meet local demand, and supporting future infrastructure projects aimed at improving the quality of life as per the goals of the kingdom’s vision.

In January, Eastern Province Cement’s board approved awarding the project to build a new production line to Sinoma.

It is worth noting that the cement producer achieved a net profit after Zakat and tax of SAR 148 million during the first nine months (9M) of 2023, up 55.79% year-on-year (YoY) from SAR 95 million.