Northern Region bullish on Saudi cement sector, says GM

Northern Region Cement Co. has given a bullish outlook on the Saudi cement sector, especially as the company increased its market share of white cement, general manager Obaid Al-Subaie told Argaam in an exclusive.

“The company’s market share in the northern region hit nearly 49 percent in Q3 2019,” Al-Subaie said.

Northern Region’s higher sales, stable selling prices and entrance into the white cement market have improved its performance this year, compared to 2018.

The company exported 163,000 tons of white and black clinker in the third quarter. It is currently targeting neighboring markets, such as Jordan and Iraq.

“We expect more exports, especially as the Saudi-Iraqi border crossing will reopen in Q4 2019,” he concluded.

In November 2018, Saudi Arabia’s King Salman launched the company’s white Portland cement project, with a daily capacity of 1,500 tons, Argaam reported.

In Q3 2019, the Saudi cement producer posted a net profit of SAR 26.1 million, compared to a net profit of SAR 5 million a year earlier.