Yamama Cement & ThyssenKrupp sign $1.12bn contract
Yamama Cement and ThyssenKrupp have signed a $1.12bn contract for a new cement plant in Saudi Arabia
Saudi Arabia's Yamama Cement Company has signed a $1.12bn (SAR4.2bn) contract with ThyssenKrupp Industrial Solutions to build a new cement plant.
The new plant will have a daily production capacity of 20,000 tonnes of clinker, or nodules ground to make cement, Saudi state news agency SPA reported.
Located 100 kilometres outside of Riyadh, the plant will be built over a period of 39 months.
The source of funding and start date for the project will be announced at a later date, the company said.
Yamama Cement currently produces six million tonnes of clinker and 6.3million tonnes of comment, according to Reuters data.