Al-Jouf Agricultural gets Aramco notice on fuel price adjustment

02/01/2025 Argaam
Logo ofAl-Jouf Agricultural Development Co.

Logo of Al-Jouf Agricultural Development Co.

Al-Jouf Agricultural Development Co. received a notice from Saudi Arabian Oil Co. (Saudi Aramco) on raising the prices of fuel products used in the company’s production and distribution processes, as of Jan. 1.

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In a statement to Tadawul today, Jan. 2, Al Jouf Cement said this price adjustment would reflect on its production and distribution costs. Accordingly, it projects a direct financial impact of an estimated 10% rise in total costs, based on the 2023 audited financials.

 

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The company expects this impact to appear starting from Q1 2025.

 

Al-Jouf Agricultural vowed to remain committed to enhancing efficiency and productivity through investments in production technologies, leveraging the Kingdom’s competitive infrastructure, and pursuing strategic, sustainable goals.

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