Tabuk Cement receives Aramco notice on revised fuel prices

Logo of Tabuk Cement Co.

Tabuk Cement Co. received a notice from Saudi Aramco regarding the adjusted prices of fuel products used in cement production, effective as of Jan. 1.

In a statement to Tadawul today, Jan. 5, the company said that the financial impact of this change is estimated to result in an increase in production costs.

It also affirmed that it will, in the coming period, assess potential measures to mitigate this financial impact. It will also continue implementing its plan to optimize costs and enhance the efficiency of production and operations.

Tabuk Cement highlighted its 2024 participation in the Industrial Sector Competitiveness Program, which should help minimize the relevant financial impact.