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Jeddah authorities probe cement shortage
Authorities in Jeddah are investigating more than 70 people involved in the current crisis of cement shortage in the city, Arab News has reported, citing an official source. A special committee, formed by Jeddah governor, Prince Mishaal bin Majed, has raided about 15 warehouses where cement was being sold to contractors executing a number of government projects. Trucks owned by the accused were caught in various parts of the city selling cement at black market prices of SR23 per bag, the source said. The ministry has reached an agreement with three cement makers to provide enough quantities of cement to cater to the needs of the local market, the source added.
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MAN expands in Saudi Arabia
MAN Truck & Bus, a leading global manufacturer of transport vehicles, has launched a new unit in the Saudi capital, Riyadh, as part of plans to expand its operations in the kingdom. Prompted by the rise in demand for MAN trucks in the kingdom, the company first established the Saudi Vehicles Manufacturing Co in 2009. The facility, which assembles MAN trucks to meet local demand, has produced around 3,000 units since its establishment,
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UAE cooling firm sees double Q4 profits
UAE-based district cooling firm, Tabreed has said its fourth-quarter net profit has more than doubled, backed by strong performance at its core chilled water business and an increase in total capacity, Reuters has reported. Tabreed, which received funding from state-owned fund Mubadala to restructure debt last year, saw quarterly profit rise to Dhs52.9m ($14.40m) from Dhs21.1m a year ago. Full-year net income jumped 34% to Dhs182.7m, the company said. Group revenues rose 9% to Dhs1.1bn, with its main chilled water division accounting for Dhs943.8m of the overall revenues.
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Dubai Al Khaleej refinery opts for Indian sugar over Brazilian
The Dubai Al Khaleej sugar refinery, which typically buys raw sugar from Brazil, has said it has bought more than 100,000 tonnes of Indian sugar, Reuters has reported. Al Khaleej Sugar, one of the biggest sugar refineries in the world with a production capacity of around 6,000 tonnes a day, exports to some 40 countries. "The Indian raw sugar is refined and sold to the regular customers of Al Khaleej Sugar in the Middle East and North Africa region and other parts of the world," said general manager Cyrus Raja. "In addition to the main countries that Al Khaleej Sugar purchases its sugar from, India is included in the current purchased-from countries," he added.
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Saudi mining firm start producing diammonium phosphate
State-controlled Saudi Arabian Mining Co (Ma'aden) has said it started commercial operations yesterday to produce diammonium phosphate at its Ras Al Khair plant, Gulf News has reported. The phosphate project is now fully in commercial operation and the plant will gradually increase output to its designed capacity of three million tonnes a year, the company said.
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