Umm Al-Qura Cement says fuel price adjustment to up production cost by 9%

14/01/2025 Argaam
Logo of Umm Al-Qura Cement Co.

Logo of Umm Al-Qura Cement Co.

Umm Al-Qura Cement Co. (UACC) announced the direct financial impact of receiving the notice of the adjustment of fuel prices.

 

In a statement to Tadawul, the company said the impact is expected to result in an approximate 9% increase in production costs, which will be reflected in the Q1 2025 results.

 

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The company joined the Industrial Sector Competitiveness Program in 2024, which will contribute to reducing the financial impact and improving energy consumption efficiency.

 

UACC confirmed working on implementing plans to reduce costs and enhance production and operational efficiency to mitigate this impact.

 

According to data available with Argaam, the company recently received a notice from Saudi Aramco about a change in fuel product prices used in cement production, effective Jan. 1.

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