‎Al Jouf Cement says production costs to rise 10.1% on fuel price hikes

Al Jouf Cement Co. said the recent adjustment in fuel product prices would result in a 10.1% increase in production costs, as per the latest audited financial statements, according to a Tadawul statement today, Jan. 14.

The relevant financial impact is poised to appear as of Q1 2025.

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It also noted that it would explore ways to minimize the financial impact of changes in fuel product prices. The cement producer aims to implement plans to reduce costs, as well as improve production and operating efficiency.

It will also work with government agencies on ways to diversify energy sources. The Saudi-listed cement producer earlier received a notice from Saudi Aramco on adjusting prices of fuel products used in its production operations, starting from Jan. 1, data compiled with Argaam showed.

Al Jouf Cement Co. said the recent adjustment in fuel product prices would result in a 10.1% increase in production costs, as per the latest audited financial statements, according to a Tadawul statement today, Jan. 14.

The relevant financial impact is poised to appear as of Q1 2025.

It also noted that it would explore ways to minimize the financial impact of changes in fuel product prices. The cement producer aims to implement plans to reduce costs, as well as improve production and operating efficiency.

It will also work with government agencies on ways to diversify energy sources. The Saudi-listed cement producer earlier received a notice from Saudi Aramco on adjusting prices of fuel products used in its production operations, starting from Jan. 1, data compiled with Argaam showed.