Logo of Riyadh Cement Co.
Riyadh Cement Co. signed a $34.8 million (SAR 130.5 million) contract with Sinoma Energy Conservation Ltd. to establish a waste-heat-to-energy power plant with a capacity of 12.64 megawatts.
In a statement to Tadawul, the company said the 20-month contract was signed on Nov. 28, adding that details regarding the financial impact and the period over which it will reflect will be announced later.
The project financing will be facilitated through one of the local banks, with no related parties to the contract, the statement added.
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