Najran Cement says price adjustments to up production costs by 10%

Logo of Najran Cement Co. 

Najran Cement Co. said the direct impact of adjusting prices of fuel products decreased to 10%, effective Jan. 1, 2024, versus the previous estimate of 13%.

 

The Industrial Sector Competitiveness Program provided several solutions that help in raising the efficiency and quality of energy sources used in industrial facilities, the cement producer said in a statement to Tadawul.

 

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The program will help further reduce the costs of production, with this impact expected to appear as of Q1 2024.

 

The company also indicated plans are being implemented to cut costs and boost efficiency.

 

Najran Cement Co. received on Jan. 2 a notification from Saudi Arabian Oil Co. (Saudi Aramco) concerning adjustments to the prices of fuel products used in cement production, effective Jan. 1, according to Argaam.

 

At the time, the company estimated that the new fuel product prices would lead to an increase in the cost of sales by approximately 13%.

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