Saudi Qassim Cement to hire consultant for 30-MW solar project

Saudi Arabia's Qassim Cement Company (TADAWUL:3040) will mandate a consulting firm to help with the preparations for a 30-MW solar plant at its site in the northcentral city of Buraydah as the cement maker seeks to reduce its carbon footprint.

The consulting firm will define the scope of work and qualify the competitors for the implementation of the project, Qassim Cement said on Thursday.

The electricity generated by the plant will be added to the current energy sources that power the production site in Buraydah which will reduce its carbon emissions and cut electricity costs. The financial impact of the project is still unknown.

Based in Buraydah, Qassim Cement produces about 4 million tonnes of cement annually. The company will invest SAR 152 million (USD 40.53m/EUR 35.76m) to build a cement mill at its plant in Buraydah with a capacity of 300 tonnes.

The company's solar project aligns with Saudi Vision 2030. The kingdom, which is the world's largest oil exporter, announced in October that it targets to reach net-zero emissions by 2060 and became the second country in the region to make such a commitment after the United Arab Emirates.

(SAR 1.0 = USD 0.266/EUR 0.235)

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