City Cement’s subsidiary inks deal with Next Generation SCM

Logo of City Cement Co.

City Cement Co.’s subsidiary, Nizak Mining Co., signed a joint venture agreement with Next Generation SCM that owns the right to use the patented technology by Danish-CemGreen.

The agreement was signed on Oct.7 during the launch of the Sustainability Report.

In a statement to Tadawul, City Cement said that this agreement aims to establish a company specialized in processing types of natural raw materials to produce synthetic products with low-emission technologies that are environmentally friendly and have high cementitious properties used in construction.

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The manufacturing process of these products contributes to reducing carbon emissions, in line with City Cement’s goals to contribute to the Saudi Vision 2030 regarding sustainability and its impact on enabling the attraction of foreign investors, the statement added.

The developments and the expected positive financial impact will be announced later, the cement producer said.