Cement company to absorb extra fuel costs

Cement company to absorb extra fuel costs
Published: 13 April 2004

Jordan Cement Factories Company (JCFC) will not raise cement prices at present as a result of the increase in fuel bills, JCFC Board Chairman Abdul Ilah Khatib said. Khatib made these remarks at a general assembly meeting on Saturday. Higher fuel prices raises production cost up by JD6 per tonne, said the chairman, noting that the company will do its best not to transfer the extra cost on to consumers. The company currently pays around JD20 million for fuel per year, JCFC General Manager Samer Biriqadar said. Fuel costs will go up by 7.5 per cent after the latest hikes in prices, he added, noting that the company is working hand-in-hand with the government to arrive at alternative solutions (original report Jordan Times).