I’ve always brushed off the cliché advice to “build a strong foundation.” But when you’re sitting on $1.5 trillion worth of active construction projects, suddenly that sounds like a plan worth taking seriously.
What do Saudi Arabia’s 14 giga-projects and the 11 new stadiums for the 2034 FIFA World Cup have in common? They all need cement — and lots of it.
Fortunately for the Kingdom, it’s sitting on some of the purest limestone in the world. While the industry standard requires at least 75% calcium carbonate, Saudi limestone clocks in at an impressive 97% and higher.
📈The Stock: Riyadh Cement (3092.SR)
As the name suggests, Riyadh Cement is right where the action is — in the capital, home to six of those giga-projects.
They run two plants:
White Cement Plant → 320K Tons/Year ( the Kingdom’s first white cement producer)
Grey Cement Plant → 3.4 Million Tons/Year
In short: They turn Saudi limestone into the concrete that holds the Kingdom up.
💰Show me The Money
Simply by owning this stock, you pocket an 8.13% dividend yield.
Metric | 2022 | 2023 | 2024 |
Profit Margin (%) | 31.7 | 29.3 | 39.2 |
Free Cash Flow (Millions SAR) | 249.4 | 197.6 | 342.3 |
🥱What’s So Special?
Riyadh Cement is a classic local cash machine: ultra-pure raw material on-site, steady demand from giga-projects that can’t afford delays, and high transport costs that keep cheaper imports out.
They don’t need to chase customers — the Kingdom’s $1.5 trillion buildout guarantees steady buyers.
This local moat means healthy margins, minimal reinvestment needs, and consistent free cash flow left over for dividends.
You get paid while the Kingdom pours concrete.
See You Next Sunday!