Yanbu Cement to build electric power station for SAR 232 mln

Yanbu Cement Company said it signed an agreement on Wednesday with China’s Sinoma Company to build a SAR 231.8 million power station that will recycle used heat from industrial production.

The National Commercial Bank (NCB) will provide financing for the project, the company said in a statement to Tadawul, Saudi Arabia’s bourse. 

Yanbu said the power plant, once completed, will increase its cement-grinding capacity by one million tons a year.

Financial results should materialize in January 2017 when the project is fully completed. The project’s pilot launch is set for Dec. 1, 2016.