Qassim Cement joins industrial sector competitiveness program

16/07/2024 Argaam
Logo ofQassim Cement Co.

Logo of Qassim Cement Co.

Qassim Cement Co. joined the industrial sector competitiveness program by signing a framework agreement that provides several immediate development solutions, according to a statement to Tadawul.

 

These solutions aim to enhance the competitiveness of existing industrial facilities in Saudi Arabia, which were impacted by implementing the energy price adjustment plan. The program will contribute to reducing the impact of the immediate increase in energy prices.

 

Additionally, the company is committed to minimize the relevant financial impact and safeguard the interests of its shareholders.

 

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Accordingly, the financial impact on the increase in the production cost will be reduced to 8% as of Jan. 1, 2024, instead of 18% as announced earlier.

 

In January 2024, the company received a notice from Saudi Aramco as regards as regards the fuel prices’ increase as of Jan. 1, data compiled with Argaam showed.

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