Northern Cement signs $139 mln contract to construct production line in Iraq

05/11/2023 Argaam

Northern Cement signs $139 mln contract to construct production line in Iraq

Logo of Northern Region Cement Co. 

Northern Region Cement Co. signed on Nov. 4 a contract with Germany’s KHD Humboldt Wedag to establish a production line with a capacity of 1.32 million tons annually of cement in Iraq.  

 

According to a statement on Tadawul, the 16-month contract is valued at $139 million (SAR 521.2 million). The financial impact of the deal is expected to appear in H2 2025.  

 

The project will be financed from the company’s own resources, the company noted, adding that there are no related parties.  

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