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MEED Insight GCC Cement 2009: facing up to over-supply

  • United Arab Emirates: Tuesday, May 26 - 2009 at 13:59

Cement supply in the GCC is forecast to outstrip demand this year for the first time since 2005 as a result of a significant hike in capacity and the downturn in the regional projects, according to the new MEED Insight report GCC Cement 2009.

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  • Saudi now has production capacity of more than 45 million tones a year (t/y), and is set to exceed 50 million t/y by 2010.
    Saudi now has production capacity of more than 45 million tones a year (t/y), and is set to exceed 50 million t/y by 2010.

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The regional industry has proven to be more resilient than first thought but MEED Insight says it is inevitable demand will fall, with more than $400bn worth of projects in the region cancelled or postponed

Cement capacity has jumped by an estimated 70% to 85 million tonnes a year in early 2009, mainly due to substantial capacity expansions in Saudi Arabia and the UAE.

With a grim projects and contracting environment in the UAE, especially Dubai, cement producers will have to look to other, more robust markets for new business, the report says.

UAE Construcation


In the first quarter of 2009, UAE construction awards slumped by 85% with little sign of a significant upturn in the rest of the year.

Other markets with less exposure to real estate are expected to be more resilient.

Saudi Arabia cement industry


In particular, Saudi Arabia is set to push ahead with significant investment in infrastructure and housing.

The kingdom now has production capacity of more than 45 million tones a year (t/y), and is set to exceed 50 million t/y by 2010.

Demand is still high; March 2009 witnessed the highest ever demand for clinker.
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www.meed.com/insight/briefing/2009/05/gcc_cement_2009_facing_up_to_oversupply.html

MEED is internationally recognised as providing essential business intelligence for anyone doing business in, or with, the Middle East and North Africa. With journalists and contacts across the entire Middle East and North Africa region, MEED provides reliable, up-to-date business news, analysis and data in both print and online.

MEED Insight offers you the ability to commission in-depth, focused research and analysis, completely tailored for your organisation - helping you to gain insight on market size and potential, new opportunities and risk, macroeconomic and industry data.

Written by Angus Hindley (Research Editor, MEED), the full GCC Cement 2009: facing up to over-supply report is now available to buy. For more information about the research services offered by MEED Insight please contact:

Email: insight@meed.com
Telephone: +971 (0) 4 367 1302
Online: www.meed.com/insight
Lara Lynn GoldenLara Lynn Golden, News Editor
Tuesday, May 26 - 2009 at 13:59 UAE local time (GMT+4)

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