Cement firms to see better results in Q4: Al Kathiri Holding CEO

Saudi cement companies are expected to see better results in the fourth quarter of the year, said Mesheal Al-Kathiri, CEO of Al Kathiri Holding Co.

Cement prices doubled last week in the central region of Saudi Arabia. This indicates market movement, as local and foreign contractors are currently asking for quotations, he told Argaam on the sidelines of the Future Investment Initiative (FII) 2018 in Riyadh last week.

Inventories are expected to decrease with projects such as Al-Qiddiya, NEOM, Red Sea, and other Public Investment Fund (PIF) projects, as well as private sector projects set to start in Q2 2019, he added.

Al Kathiri Holding, through its subsidiaries, manufactures construction materials. It distributes cement, mortars, concrete, and other products in the Kingdom.

Click here to watch the full interview in Arabic.