MEPCO: Fuel Price Increase to Raise Sales Costs by 2.6%

Middle East Paper Co. (MEPCO) announced on Wednesday that it received a notification from the Saudi Arabian Oil Company (Saudi Aramco) to increase the prices of fuel products used in production starting from Jan. 01, 2025.

The Company expects the financial impact of this increase to be an approximate increase equivalent to 2.6% of the total annual cost of sales according to the Company’s latest audited annual financial statements, and this impact will appear starting from the first quarter of the fiscal year 2025.

The Company confirmed that it continues to enhance and develop the efficiency of its business in a responsible and sustainable manner and invest in developing production technologies and products, in addition to maximising the benefit from the advantages of the competitive infrastructure available in the Kingdom to achieve its strategic goals.