Al Jouf Cement: Financial Impact of Fuel Price Adjustment Cuts Production Cost by 5.3%

Al Jouf Cement Co. announced on Thursday updated figures regarding the impact of fuel and diesel price adjustments used in production, stating that the financial impact rate has been revised from 10.1% to approximately 5.3% of production costs, effective Jan. 01, 2024.

The company stated that the revision follows its accession to the Industrial Sector Competitiveness Programme, under which it signed an agreement aimed at improving the efficiency and quality of energy sources used in industrial operations. The programme is expected to help reduce production costs, complementing Al Jouf Cement’s previous initiatives to enhance energy efficiency.

As a result, the financial impact of increased production costs decreased by 4.8%, the company added.

Al Jouf Cement affirmed it will continue to explore additional measures to enhance production efficiency and further reduce costs in the coming period.