Saudi Cement joins Industrial Sector Competitiveness Program, cuts production costs to 7%

Logo of Saudi Cement Co.

Saudi Cement Co. signed an agreement to join the Industrial Sector Competitiveness Program, which provides several solutions that help in raising the efficiency and quality of energy sources used in industrial facilities, according to a statement to Tadawul.

The program will contribute to reducing the company’s production costs. Accordingly, the financial impact on the increase in the cost of production before signing the agreement was about 13%, which will come down to about 7% after signing the agreement.

The cement producer also confirmed that it will work to explore additional ways to raise production efficiency and reduce cost during the coming period. The net impact on the increase in the cost of production is nearly 7% from Jan. 1, 2024.

In January, Saudi Cement received notifications from Saudi Aramco about adjustments to the prices of fuel products used in cement production, according to Argaam's data.