Cement export tariff cut ‘insignificant’, says Al-Rashid

Saudi Arabia’s decision to slash cement export tariffs by 50 percent is insignificant and will not encourage local industries and producers, Jihad Al-Rashid, head of the National Committee of Cement Producers, told Argaam.

He said the committee would continue to demand reduction of export duties. We want cement to be treated on par with steel,” he added, referring to the decision to scrap the export tariff on steel.

He believed that none of the cement producers which have obtained licenses to export have received those that apply the new rates.

Saudi Arabia said on Thursday it would cancel all export duties on steel for two years and slash cement export tariffs by 50 percent to encourage local industries and producers, and enhance competition.

Cement export tariffs had been earlier levied at between SAR 85 and SAR 133 per ton, while steel export tariffs were estimated between SAR 58 and SAR 390 per ton, Argaam reported.

Najran Cement, Al Jouf Cement, Tabuk Cement and Hail Cement have already acquired export licenses earlier this year.