Arabian Cement says Jeddah’s commercial court revokes previous order on lack of jurisdiction

Logo of Arabian Cement Co. (ACC)

Arabian Cement Co. (ACC) received today, Oct. 24, a favorable appeal ruling from Jeddah Commercial Court on revoking the preliminary court’s decision, ordering Emaar The Economic City (Emaar EC) to deliver to the company 4.57 million tons of limestone. Today’s ruling was issued on the lack of jurisdiction by commercial courts.

In a statement to Tadawul, the cement producer added that it will proceed with its lawsuit with Jeddah General Court.

No financial impact is expected from this ruling, ACC noted, adding that relevant updates will be announced later.

On June 12, ACC said a court order was handed in its favor, ordering Emaar EC to supply the company with 4.57 million tons of limestone based on the agreement signed by the two parties on April 28, 2012, Argaam reported.