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A leading Chinese civil engineering firm has secured an EPC (engineering, procurement, and construction) contract valued at $298 million for a cement production facility in Saudi Arabia.
A subsidiary of the company in Saudi Arabia will develop a new production line capable of producing 10,000 tons of cement clinker daily at the Qassim Cement plant located in Buraydah, the capital of the Qassim Province. The announcement was made by the company on August 15.
The new line will encompass the entire cement manufacturing process, from limestone crushing through to final product dispatch. Construction is expected to start once Qassim Cement issues a letter of credit and completes the site handover, with production anticipated to begin within 24 months.
Earlier in April, the company also won a contract to build a manufacturing base for consumer electronics in Saudi Arabia for a major Chinese PC manufacturer, valued at $263 million.
As of 2 p.m. in Shanghai today, the company’s shares were slightly down by 0.1%, trading at 9.19 yuan (roughly $1.28 USD).
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