Al Jouf Cement receives ministry approval to reschedule SAR 48.9 mln debt

19/10/2023 Argaam

Al Jouf Cement receives ministry approval to reschedule SAR 48.9 mln debt

Logo of Al Jouf Cement Co.

Al Jouf Cement Co. received the Ministry of Finance’s approval to reschedule its debt of SAR 48.9 million, provided the debt is repaid in monthly instalments ending in 2028. 

 

In a statement to Tadawul, the cement producer said it received the notification through a letter from the Ministry of Industry and Mineral Resources. 

 

Al Jouf Cement said the debt owed to the Ministry of Industry is due to the company’s failure to pay the financial consideration for exploitation from 2017 to 2022. 

 

The Saudi-listed company expects a positive financial impact on its financial statements from Q3 2023. 

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