SIIG subsidiaries get Aramco notice on rise in feedstock prices

02/01/2025 Argaam
A SIIG factory

A SIIG factory

Saudi Industrial Investment Group (SIIG) announced that its subsidiaries received an official notice from Saudi Arabian Oil Co. (Saudi Aramco) on the increase in some feedstock and fuel prices as of Jan. 1, according to a statement to Tadawul.

 

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The price hike will likely lead to an increase of 1% in the cost of sales for the joint ventures, according to the latest audited financial statements.

 

The financial impact of this adjustment will start in first quarter of 2025, the statement added.

 

The company continues to promote the efficiency and responsible and sustainable development of its business, as well as maximizing the benefits of the competitive infrastructure available in the Kingdom to achieve its strategic objectives.

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