Saudi Arabia’s cement production expanded 17 per cent in the first quarter as demand for building materials increased in the kingdom, the largest economy in the Middle East.
Saudi cement companies produced 8.4Mt of cement in the first quarter, which included new supplies from two factories, according to Jeddah-based National Commercial Bank, the kingdom’s largest bank by assets, in a research note received by e-mail today.
Cement production in 2007 increased 12 per cent to 30.2Mt, while local consumption expanded 8.4 per cent to 26.8Mt. Cement exports increased 55.8 percent to 3.5Mt in 2007, National Commercial said.
Saudi Arabia, the world’s largest oil producer, will see its economy expand 6.7 percent this year because of record oil revenue, according to Riyadh-based Samba Financial Group. The non-oil sector is also driving the economy, with growth in the financial, construction, communication sectors, Samba said.