Saudi Southern Province Cement earns $28 million in 1Q 2002
Saudi Arabia’s Southern Province Cement Company (SPCC) recorded a net income of 106 million Saudi riyals ($28.2 million) in the first quarter of 2002 compared with the first quarter figure of SR 70 million in 2001, reported Al-Watan. The company’s output totaled 746,500 tons of clinker during the same period compared with 740,000 tons in the first quarter of 2001.
SPCC’s cement sales in the local market grew to 829,000 tons in the first quarter of 2002 compared with 647,000 tons during the same period in the previous year. The company’s clinker exports increased from 173,470 tons to 227,300 tons during the same period and cement exports rose from 16,822 tons to 26,125 tons.
Established in 1978, the SPCC is a manufacturer of cement and cement products with an authorized capital of SR 105 million. Located in Abha City, in the southwest region of Assir, SPCC now owns two cement plants with a total capacity of 3.5 million tons of clinker annually. — (menareport.com)
© 2002 Mena Report (www.menareport.com)