Qassim Cement notified of fuel price adjustments

Logo of Qassim Cement Co

Qassim Cement Co. got a notice from Saudi Arabian Oil Co. (Saudi Aramco), stating that the prices of fuel used in production were adjusted as of Jan. 1. 

The company explained in a statement on Tadawul that this amendment will affect the cost of production starting from Q1 2024’s financials.

It noted that work is underway to calculate the expected financial impact, which will be announced upon completion.

Qassim Cement stressed its keenness to implement the best procedures and practices available to mitigate the potential financial impact, enhance the efficiency of its business and develop it in a responsible and sustainable manner, to ensure the protection of the shareholders rights.