RIYADH: Saudi Aramco and the American Concrete Institute (ACI) will launch the Center of Excellence for Nonmetallic Building Materials (NEx), to develop and promote the use of nonmetallic materials in the construction sector, the companies said.
The center will be based at the ACI world headquarters in the United States.
The center will leverage ACI’s role as an authority and resource for the development, dissemination, and adoption of consensus-based standards for concrete design, construction, and materials.
Aramco has been developing and deploying nonmetallic solutions within its operations for more than 20 years, as they can offer superior lifecycle cost, efficiency and environmental advantages over their metal alternatives, said Ahmad Al-Sa’adi, Aramco SVP of technical services.
However, the potential for using nonmetallic advanced polymeric materials goes beyond the oil and gas sector, he said.
“The center’s mission will be to collaborate globally on using nonmetallic materials in the built environment by driving research, education, awareness and technology adoption,” said Jeffrey W. Coleman, ACI president.
The initiative with ACI is part of Aramco’s broader strategy to enter new markets, and to leverage its hydrocarbon resources and technology to deliver advanced polymeric materials solutions across industries.
Aramco and American Concrete Institute launch nonmetallic building materials center
https://arab.news/9tduw
Aramco and American Concrete Institute launch nonmetallic building materials center
- Center will be based at ACI world headquarters in the US
- Initiative is part of Aramco strategy to enter new markets
Closing Bell: Saudi main index slips to close at 11,228
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64.
The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.
On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.
The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.
The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.
Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.
Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56.
Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55.
Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34.
On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier.
The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.
Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent.
United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent.
Tas’heel ended the session at SR146.80, down 0.28 percent.
