Riyadh – Mubasher: Al Jouf Cement Company entered into a significant commercial agreement with Maham Construction and Contracting Company LLC to supply various types of cement and clinker for export to Syria.
The contract, valued at approximately SAR 55.40 million, represents a strategic move by the Saudi-listed manufacturer to expand its geographic reach and capitalize on regional reconstruction and construction demand.
According to a regulatory filing on the Saudi Exchange (Tadawul), the agreement was formalized on 29 June 2026. The counterparty, Maham Construction and Contracting Company, is a limited liability entity and a subsidiary of the Al Hassan Holding Group.
Al Hassan Holding is a diversified investment conglomerate with established operations across the industrial, construction, trading, and logistics sectors.
Under the terms of the one-year contract, Al Jouf Cement will be responsible for the sale and supply of cement and clinker products. These materials will be delivered in accordance with specific commercial terms, technical specifications, and supply and payment mechanisms agreed upon by both parties.
The primary objective of this procurement is the facilitation of exports to the Syrian Arab Republic, a market currently seeing renewed interest in construction materials.
Regarding the financial implications of the deal, Al Jouf Cement expects the positive impact to manifest in its financial statements starting from the third quarter (Q3) of 2026.
The company noted that the exact timing and scale of the revenue recognition will depend on the supply and implementation schedules stipulated within the contract. The company also confirmed that there are no related parties involved in this specific transaction.
In a parallel development, Al Jouf Cement and Maham Construction and Contracting signed a memorandum of understanding (MoU) for strategic cooperation.
This MoU aims to establish a general framework for exploring broader investment and commercial opportunities. The scope of this cooperation includes studying potential strategic partnerships, alliances, joint ventures, and various commercial and investment models.
The company clarified that this MoU is part of its executive initiatives under its broader transformation strategy. At its current stage, the memorandum does not carry any direct financial impact or binding contractual obligations for either party.
Al Jouf Cement has committed to disclosing any material developments or final agreements resulting from this MoU in accordance with relevant regulations and instructions.
Earlier in 2026, the listed company signed an agreement with Ltec Limited to undertake the design, supply, and installation of electrical interconnection works at its manufacturing facility in Turaif.
