Tabuk Cement expects 12% hike in production costs on fuel product price increases

21/01/2024 Argaam
Logo ofTabukCement Co.

Logo of Tabuk Cement Co.

Tabuk Cement Co. revealed that the direct financial impact of adjusting fuel product prices is estimated to lead to an approximately 12% increase in production costs.

 

In a statement to Tadawul today, Jan. 21, the company said it will explore ways to mitigate the financial impact of this adjustment on its earnings.

 

According to data available on Argaam, Tabuk Cement received a notice from Saudi Arabian Oil Co. (Saudi Aramco) regarding the adjustment of fuel product prices used in cement production, effective Jan. 1, 2024. 

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