Riyadh Cement Company has signed a 130.5 million Saudi riyal ($34.8 million) contract with Sinoma Energy Conservation Limited to establish a waste heat recovery plant with a 12.64 megawatts (MW) capacity.

The contract duration is 20 months, the company said in a statement published on the Saudi stock exchange.

A local bank will finance the project, the statement added. The bank's name was not given.

(Writing by D Madhura; Editing by Anoop Menon)


Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.