Cement News tagged under: Al-Jouf Cement

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Saudi producers warn of rising production costs

05 January 2024, Published under Cement News

Cement producers in Saudi Arabia have received a notification from Saudi Arabian Oil Co (Saudi Aramco) that the price of fuel products used in cement production will be increasing in price, effective from 1 January 2024.  Arabian Cement Co , Yamama Cement Co , Qassim Cement Co and Al-Jouf Cement Co are among the cement manufacturers who have warned customers that this adjustment “will impact production costs and efforts are currently underway to calculate the expected financial impa...

Al Jouf Cement Co's profit balloons 836.43% YoY in 9M23

13 November 2023, Published under Cement News

Al Jouf Cement Co announced the initial consolidated financial results for the period ending 30 September 2023  on the Saudi Stock Exchange. The company saw its net income surge to SAR72.6m (US$19.36m) for the first nine months of 2023 (January-September), compared to SAR7.8m for the same period in 2022. This interprets into the expansion of profit 836.43 per cent YoY. The sales/revenue jumped to SAR217m from SAR172m during this period and grew 26.3 per cent over the past period. The incr...

Saudi cement companies fined for price manipulation

14 April 2023, Published under Cement News

Saudi Arabia’s General Authority for Competition (GAC) has fined 14 cement companies a total of SAR140m (US$37.33m) for price manipulation activities. Each company has been found guilty of trying to manipulate Saudi’s cement market with price increases, resulting in a SAR10m fine each. According to the Saudi Gazette, the GAC received numerous complaints that several cement producers were collaborating to raise cement prices and share the local market between themselves. After collecti...

Saudi Cement companies await upturn on 2Q18 export sales

14 March 2018, Published under Cement News

Saudi cement companies' sales in February fell 11 per cent 3.63Mt compared to sales of 4.09Mt in February 2017. However, analysts are confident that 2Q18 sales will increase on the back of higher exports. Asharq Al-Awsat reported that Saudi Arabian cement companies will rely on completing domestic construction projects and increased exports to raise revenues in 2Q18. "Saudi cement companies are positioned to boost sales in the second half of this year," said economic specialist Faisal ...

Adequate fuel supply needed to meet Saudi cement demand

10 June 2013, Published under Cement News

With massive investments being pumped into the infrastructure space, the outlook for the Saudi cement sector looks bright. Cement companies have benefitted largely from cheap raw materials and fuel availability, making them outstandingly profitable. However, there are some concerns on fuel supply, which could lead to cement shortages. Despite buoyant demand, the cement sector is facing difficulty in ensuring smooth supply of fuel from the government. At the same time, the ma...