Arabian Cement Company said that a fire which broke out at its third cement mill at its plant in Rabigh on September 20 was caused by an electrical problem.
The company said that although clinker production was not impacted by the fire, the temporary closure of one of its five existing mills is likely to lead to an expected temporary drop in sales of around 1,000 tonnes a day.
The fire was brought under control quickly, and there were no casualties, but it could be three-to-four months before normal operations resume. Arabian Cement said that the reduction in capacity is likely to lower sales by around $6.4m (SR: 24m).
The company said that it was currently studying ways of bringing the plant back on line more quickly.
In the six months to June 30, the company's net profit fell by 4.2% to $58.2m (SR: 218), which it blamed on an impairment in the value of its stake on Jordanian firm Qatrana Cement. The write-down in value, following a report by KPMG, was blamed on the low levels of demand and low prices achieved for cement in the market.
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