Southern Cement says production costs to rise 10% on fuel price hike

14/01/2025 Argaam
One of Southern Province Cement’s plants

One of Southern Province Cement’s plants

Southern Province Cement Co. said the recent fuel price hike is seen to result in an almost 10% increase in production costs, according to a Tadawul filing today, Jan. 14.

 

The company said that it is exploring ways to reduce the financial impact of this price adjustment.

 

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It also highlighted its participation in the Industrial Sector Competitiveness Program starting in 2024, which is bound to help reduce costs and enhance energy efficiency.

 

Southern Cement received earlier a notice from Saudi Aramco on the adjustment in prices of fuel products used in production operations, effective as of Jan. 1, 2025. The impact will appear as of the Q1 2025 financial results, data compiled by Argaam showed.

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