Northern Cement sees average cement prices at SAR 190/ton in Q1 2021: official

Obaid Al Sobiei, General Director of Northern Cement

Northern Region Cement Co. expects average cement prices to near SAR 190 per ton in the first quarter of 2021, General Director Obaid Al Sobiei told Argaam.

Returns from the company’s overseas investments surged to SAR 9.9 million in the fourth quarter of 2020, compared to SAR 2 million a year earlier.

According to the current forecasts, Northern Cement aims to export almost 20,000 tons to Iraq during the first half of 2021, Al Sobiei added.

Northern Cement reported a net profit after Zakat and tax of SAR 108.2 million, a 17% increase year-on-year (YoY) for 2020, Argaam reported.