Southern Cement inks $330 mln contract to establish production line, infrastructure

18/05/2023 Argaam

Southern Cement inks $330 mln contract to establish production line, infrastructure

Logo of Southern Province Cement Co.

Southern Province Cement Co. signed, on May 17, a 30-month contract with Sinoma International Engineering Co. Ltd. to construct a production line with a capacity of 5,000 tons/day, and set up infrastructure for another line with 5,000 tons/day production capacity.

 

In a statement to Tadawul, Southern Cement pointed out that the contract value is $330 million, or SAR 1.24 billion.

 

The contract will be financed through a local bank, the statement added, noting that there are no related parties to the deal.

 

The transaction’s financial impact, if any, will be announced later.

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