Hail Cement has announced that the cement factory and power plant which has been under construction for more than a year, has begun trial operations.
Hail Cement Co’s shares were floated on the Saudi Arabian stock exchange in October 2011, when the company raised around SR: 490m ($130m) through the sale of half of its shares.
That money, plus a further $80m secured through a development loan in December, has been used to create a rotary kiln cement plant, a 52MW power plant and $31.5m worth of on-site worker accommodation which includes 19 Villas, 120 apartments for families, 108 single rooms for bachelors, a building of 12 studios for guests and two buildings of 24 studios for supervisors.
It is expected that the cement plant will be fully operational within three months.
Meanwhile, City Cement has announced that the mill which broke down on 11 November has been repaired. The company had indicated that the mill would take 3-4 months to repair.
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