Arabian Cement factory
Arabian Cement Co. (ACC) said a preliminary court ruling was issued in its favor today, May 31, by the General Court in Jeddah against Emaar The Economic City (Emaar EC).
In a statement to Tadawul, the cement producer said the court ordered Emaar EC to provide ACC with 4.57 million tons of limestone usable in cement manufacturing and enable it to receive this quantity immediately, under the agreement signed by both parties on April 28, 2021.
The ruling can be appealed within 30 days from the date of issuance. If no party appeals the ruling within the specified period, it will forfeit the right to appeal.
There is no financial impact of this ruling, ACC said, adding that any relevant updates will be duly announced.
In June 2022, Emaar was ordered to supply ACC with 4.57 million tons of limestone, Argaam reported.
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