Error message

  • Warning: mysqli_connect(): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 276 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).
  • Warning: mysqli_connect(): (HY000/2002): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 276 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).
  • Warning: mysqli_close() expects parameter 1 to be mysqli, boolean given in include() (line 300 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).

Najran Cement acquires 30% of Saudi transport firm

Projects Supply Company has fleet of 300 vehicles and employs 500

NEWS, Business, Mergers, Najran cement, Transport

Najran Cement has agreed a deal to buy a 30% stake in Projects Supply Company - a transport and logistics specialist.

The cement producer has said that the deal will allow it to better serve its own customer base as well as allowing it to capitalise on a boom in demand to transport cement.

Projects Supply Co specialises in the transport of cement, finished steel and a number of bulk raw materials. It also delivers fuels and chemicals and is working on a number of pilot projects for Saudi Aramco and Saudi Basic Industries.

According to its website, the business operates from four sites in the Kingdom and has a fleet of 300 European and Japanese-made trailers. It employs 500 staff.

Najran Cement floated on the stockmarket in April 2012 in a move which valued the company at $453m.

It raised $221.5m through the float of 50% of its shares, which it is using to build a third production line.

Last month, the company revealed a net profit for 2012 of $53.9m.

 

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020