Al-Jouf Cement Signs SAR 31.8 Million Contract for Transport Fleet

Al-Jouf Cement Company announced on Wednesday the signing of a contract with Sulaiman bin Saleh Al-Muhailib and Sons Company to purchase a fleet of transport vehicles for approximately SAR 31.8 million, to be exchanged for products from the company and the deduction of the debt portion. The company stated on Tadawul that the purchase is expected to positively impact the company’s future results starting from the third quarter of 2024 by increasing market share and reducing transportation costs. Notably, 50% of the vehicles have already been delivered to the Al-Jouf Cement factory. The remaining vehicles, accounting for the other 50% of the contract value, are expected to be delivered by the third quarter of 2024. The company will announce the completion of the receipt process once it is finalized.