Saudi moves to curb construction costs

Saudi moves to curb construction costs
Published: 05 December 2007

Saudi cabinet on its Monday meeting held in the capital Riyadh agreed to extend the exemption period of imported cement from local custom tariffs for another two years, said the Saudi Press Agency.

The decision of the cabinet is believed to be a step to reduce the cost of construction material in the country that is witnessing a construction boom.

Starting from next January and for another two years, the government will keep paying the five-percent subsidy on tariff rate of imported cement that is imported from non-Gulf countries.