• Most Popular
  • Most Shared

China's Sinoma inks $147 mln Saudi initial deal

Tue Nov 3, 2009 8:03am EST

Stocks

   

RIYADH, Nov 3 (Reuters) - Saudi-based Southern Province Cement Co 3050.SE said on Tuesday it has signed a preleminary agreement to award China's Sinoma (600970.SS) a $147 million contract to expand its production capacity.

A final contract for the turnkey expansion will be signed before the end of 2009, said Southern Cement, the kingdom's biggest cement firm by market value.

The contract covers adding a production line with a daily 5,000 tonne capacity to one of Southern Province's plants, it added in a statement on the bourse website. (Reporting by Souhail Karam; Editing by Firouz Sedarat)



More from Reuters

Photo

Accused 9/11 plotters may face NY "Guantanamo"

NEW YORK (Reuters) - If the men accused of plotting the September 11 attacks wonder what conditions they might face when they are moved to New York from Guantanamo Bay for trial, they can expect solitary confinement, 23-hour-a-day lockdowns, constant video surveillance and almost no visitors.

» More Top News
Traders in the oil options pit work at the New York Mercantile Exchange, September 9, 2008. REUTERS/Chip East
Analysis:

"More assumptions, more risk"

New oil and gas reserve rules were supposed to improve transparency, but the unforeseen consequences of the regulations could add a layer of uncertainty for investors.  Full Article 

regulatory news
The sun sets over the Mackenzie Delta near Inuvik, Northwest Territories November 11, 2009. Credit: REUTERS/Jeffrey Jones

An Arctic economy in limbo

Beset by political and economic setbacks, one of the world's biggest pipeline projects is on hold, and it's unclear if the project will ever break ground.  Full Article 

Green Business