Saudi Arabia may scrap export ban mid-year

Saudi Arabia may scrap export ban mid-year
Published: 21 February 2011

Saudi Arabia may lift a 2008 ban on cement exports in the middle of this year, Al Yaum reported, citing people familiar with the Supreme Economic Council.

Saudi Arabia awarded new export licenses for cement production companies in October 2009 to reduce cement prices in domestic markets, the newspaper said.

The Supreme Economic Council was set up in 1999 to promote the sale of state assets and boost investment by industry.