Jan 10 2012 |
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Saudi Qassim Cement Says Aramco Won't Offer Fuel For New Line
Tuesday, Jan 10, 2012
(This story was originally published Monday.)
RIYADH (Zawya Dow Jones)--Saudi Arabia's Qassim Cement Co. (3040.SA) said Monday that state-giant Saudi Arabian Oil Co., or Saudi Aramco , will not supply fuel for its planned production line.
"The company has received a letter from Saudi Aramco in which they are apologizing for not meeting the request of Qassim Cement to provide fuel for the new line," the company said in a statement posted on the Saudi bourse website.
The firm will still proceed with its plans and will follow up with the concerned authorities, it said.
Aramco, which was not immediately available for comment on Qassim's statement, had then said it was supplying Yanbu Cement with all the allocated volumes of fuel as contracted and that the cement maker should have secured the needed fuel before it committed to building a fifth production line.
Yanbu Cement said Saturday it was forced to stop the production at its first, second, and third lines after Saudi Aramco refused to supply it with extra fuel for the trial of its fifth line, which has a production capacity of 10,000 tons per day.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
10-01-12 0404GMT
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