Al-Jouf Agricultural joins Industrial Sector Competitiveness Program

Logo of Al-Jouf Agricultural Development Co. (JADCO)

Al-Jouf Agricultural Development Co. (JADCO) joined the Industrial Sector Competitiveness Program, which aims to offset the impact of fuel price adjustment, according to a Tadawul statement.

For more news on listed companies

The company signed an agreement with the program to provide several solutions, with the aim of helping improve the efficiency and type of energy sources used in industrial facilities.

The program will contribute to reducing production costs, the statement said.

Therefore, the financial impact on the cost of production decreased by approximately 1%, falling from nearly 7% to 6%, according to the company's latest audited annual financial statements for 2024.

This impact is expected to appear starting Q1 2025.

The company emphasized that it will work to explore additional ways to raise production efficiency and reduce costs in the coming period. In January, Al-Jouf Agricultural received a notice from Saudi Aramco on raising the prices of fuel products used in the company’s production and distribution processes as of Jan. 1, according to Argaam data.