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| Announcement Detail | “City Cement Company announces the signing of a Joint Venture agreement by its subsidiary, "Nizak Mining Company", with Next Generation SCM, which owns a license to benefit the patented technology from its owner the Danish Company CemGreen, on Monday 07/10/2024, during the launch ceremony of the Sustainability Report. |
This agreement aims to establish a company specialized in processing types of natural raw materials to produce synthetic products with low-emission technologies that are environmentally friendly and high cementitious properties used in construction.
The manufacturing process of these products contributes to reducing carbon emissions. In line with City Cement Company's goals to contribute to the Saudi Vision 2030 regarding sustainability and its impact on enabling the attraction of foreign investors.
The partnership agreement was signed in the presence of the Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef , Danish Ambassador Mrs. Liselotte Plesner.
The developments and the expected positive financial impact will be announced later.”
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