Global News
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Middle East
Construction Boom in Saudi ArabiaCement capacity in the GCC (Gulf Cooperation Council) is expected to reach 120,7 Mt by 2013, a 13 % increase from 2011, while cement demand is expected to reach 88 Mt in 2013, up 6,6 % from 82,5 Mt in 2011 and 78,3 Mt in 2010, according to a new report. Capacity increase is driven mostly by Saudi Arabia where it is expected to reach 58 Mt while demand is expected to be at par with the capacity increase and is expected to increase by 8,3 % during the period 2011–13. The UAE is expected to witness an increase in the oversupply with capacity touching 43 Mt/a by 2013 and demand expected to remain in the range of 18–20 Mt/a. It is expect cement oversupply to continue till 2013. However, the oversupply situation in the GCC is likely to shrink on the back of huge spending plans announced by Saudi Arabia, Qatar and Kuwait (1/2012). |
