Saudi Aramco notifies Najran Cement of fuel price adjustments

Logo of Najran Cement Co.

Najran Cement Co. received on Jan. 2 a notification from Saudi Arabian Oil Co. (Saudi Aramco) concerning adjustments to the prices of fuel products used in cement production, effective Jan. 1. 

The company said the pricing adjustment would lead to a rise in production costs, adding that it is currently assessing the anticipated financial impact and will disclose the details upon completion of the assessment, according to a statement to Tadawul.

Najran Cement is committed to exploring ways in the upcoming period to alleviate the financial implications of this adjustment on the company's profits, the statement added.

The company expects the financial impact of this adjustment to appear in the first quarter of 2024.