Qassim Cement sees continued demand, 3% rise in sales: CEO

Qassim Cement factory

Qassim Cement Co. expects demand for its products to continue growing over the coming period, in line with the major events hosted by the Kingdom, said CEO Omar Al-Omar.

The company's sales volume reached about 4.2 million tonnes at Qassim plant, in addition to 1.5 million tonnes from Hail plant, with a total volume of about 5.7 million tonnes until the end of November 2024, he added in an interview with CNBC Arabia.

According to Al-Omar, Qassim Cement’s inventory exceeds 4. 5 million tonnes, due to the acquisition of Hail Cement. Sales growth is forecast to reach 3% by the end of this year, and to continue in 2025, driven by implementing projects of the Kingdom's Vision 2030. He also noted that the sector is witnessing a significant improvement.

Al-Omar also pointed out that the decline in interest rates will have great implications for all sectors, including the building and construction sector, after their rise affected these projects and their expansion.