Kuwait
Established in 1968, Kuwait Cement Company (KSCP) is a Kuwaiti Public Shareholding Company. Since its inception until the present time, the Company has been operating according to strategic planning as well sharp insight and distinct feel to the needs of the local market and clients. The Company has contributed profoundly to the progress of the industrial and urban renaissance in the county since the sixties, the matter which enriched its experience in various industrial and investment domains. Moreover, the Company has always been marked by offering new products to the local market and growing progressively in terms of size of production and product quality, relying on its expertise, long history, numerous achievements and great clients’ trust in its high-quality national products.
Key notes about Kuwait Cement Company:
It was established pursuant to an Amiri Decree on 05/11/1968, with a capital of 2.5 Million Kuwaiti Dinars, which was increased gradually until it reached at present 73.4 Million Kuwaiti Dinars, paid in full.
It is considered the only industrial Company in the country that produces the clinker and manufactures the cement in a complete manner.
The Company’s capital is owned by:
– Government of the State of Kuwait represented by the Public Authority for Investment, which is represented by three members in the Board of Directors.
– National Industries Holding Group represented by two members in the Board of Directors.
– Al-Rashed Trading, Industrial & Contracting Company, represented by one member in the Board of Directors.
– The remainder is citizens, investment companies, portfolios and national institutions. The Company is listed on Kuwait Stock Exchange and is subject to the law of Public Fund, and it is required to submit regular reports to the Audit Bureau.
The Company has constructed two kilns for the production of clinker (the raw material used in cement manufacturing). The first kiln began operation in year 2001, while the second in year 2013, together with the associated mills, heat exchangers, clinker storage silos, and other advanced technological equipments and machinery.
The Company established three Kuwaiti closed shareholding companies as subsidiaries, which are Shuwaikh Cement Company, Amwaj International Real Estate Company and Kuwait Cement Ready-Mix Concrete Company. The objective of doing so is to complement the purposes for which the Company was incorporated, and in line with its Memorandum of Incorporation and Articles of Association. The Company also constructed a plant for the storage and sale of the bulk Ordinary and Resistant Cement Type 5, which is situated at West Shuaiba District – Abdullah Port, with operational capacity of 6000 tons / day with the aim to facilitate access for large number of clients to receive their needs of bulk cement manufactured in our plants and to provide them with better services.
Management of the Company is assumed by a Board of Directors comprising ten members. The Executive Management is headed by a Chief Executive Officer and his deputy, and both work on implementing the Board’s policy in accordance with the Company’s purposes and articles of association. Moreover, the Company lends great attention to attracting larger number of national manpower, both administrative and technical, so as they would assume their role in the development and progress of the industrial sector in the country.