Hail Cement obtains cement export license

Hail Cement Co. has received a new cement export license, valid for one year, from Saudi Arabia’s Ministry of Commerce and Investment, the cement producer said in a statement in Tadawul on Tuesday.

The license is not expected to have a significant impact on financial statements.

Saudi Arabia recently approved a new system to calculate fuel price differentials for steel and cement producers that export their products, Argaam earlier reported.

Cement export charges are estimated between SAR 85 and SAR 133 per ton, while steel export fees are estimated between SAR 58 and SAR 390 per ton.