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A German-Saudi consortium will build a 3-million-tonne-per-year cement plant at a total cost of SR1.1 billion ($293.3 million), of which 30 per cent will be floated.
German engineering Cemag Group and Saudi TIG Group have signed an agreement to build Al Watan Cement plant in Jalajil, a town around 160 km north of the capital Riyadh.
Riyadh Trade and Industry Chamber confirmed the signing of the deal at the chamber’s headquarters.
Work on the plant is expected to be completed within two years.
Cemag Group develops solutions for the cement industry, the pit and quarry industry and the disposal industry.
There are eight cement companies in Saudi Arabia producing an annual 23 million tonnes, some of which are seeking to raise output.
