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Southern Province Cement Company (SPCC), a leading industrial group in Saudi Arabia, has started work on its new plant in Jazan region of the kingdom which will boast a total capacity of 5000 tonne per day.
Following the completion of technical studies in co-ordination with it consulting firm, the company's board of directors have given the go-ahead to build the infrastructure for another 5000-tonne-per-day line within the same site, said Southern Province Cement in its filing to Saudi bourse Tadawul.
This comes as part of its strategy to boost its total capacity to 10,000 tonnes per day and gradually replace the current production lines.
Southern Province Cement had recently released its figures for the three-month period ended March 31, 2022, which showed that the company's performance remained under presssure.
The Saudi group had posted a net profit after Zakat and tax of SR87 million for Q1, down 49% from SR169 million a year before. This was mainly due to a sharp decrease in sales revenue along with an increase in general and administration expenses.-TradeArabia News Service