Tabuk Agricultural Development Company announced on Sunday that it has received a notification from Saudi Aramco regarding an adjustment in diesel prices, which will take effect on January 1, 2025.
The company stated that the direct financial impact of this adjustment will lead to a projected 5.6% increase in production costs, based on the cost of revenues in its most recent audited financial statements for 2023.
In response to the anticipated cost rise, Tabuk Agricultural reaffirmed its commitment to enhancing operational efficiency and reducing costs. The company will continue to pursue its strategic objectives, which include increasing revenues and utilizing alternative energy solutions to reduce reliance on liquid fuels. These efforts align with Saudi Arabia’s Vision 2030, which emphasizes sustainable development and energy efficiency.
