Yamama Cement, ThyssenKrupp ink deal to build SAR 4.2 bln facility

Yamama Cement Co. inked an agreement on Tuesday with Germany’s ThyssenKrupp Industrial Solutions to build a SAR 4.2 billion facility, which includes a 20,000-ton clinker plant, the cement producer said in a statement on the Saudi bourse, Tadawul.

The company will build two production lines at a cost of SAR 2.7 billion, a power plant at SAR 470 million, a gas facility at SAR 420 million, a crude oil project at SAR 280 million, a residential city at SAR 300 million and the surrounding roads at SAR 30 million, the statement said.

Yamama expects to see a positive financial impact from the new facility, but didn’t say by when.

Also, no specific dates were set by the company for the construction process, plant completion, trial run and commercial operation.