Southern Cement: Production cost to jump 12.5% on fuel price increase

Logo of Southern Province Cement Co. 

Southern Province Cement Co. indicated that the direct financial impact of the recent fuel price increase is expected to be an almost 12.5% rise in production cost.

In a statement to Tadawul today, Feb. 25, the company noted that it will explore during the coming period ways to reduce the impact of this amendment on its financial results.

According to data compiled by Argaam, the cement producer recently received a notice from Saudi Aramco about the price adjustment of fuel products used in cement production, effective Jan. 1.