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18 July, 2024 15:50
An addendum announcement from the Southern Province Cement Company regarding the company’s receipt of a notification from Saudi Aramco amending the prices of fuel products used in operating the company’s factories and the financial impact on the cost of production.
Element List | Explanation |
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Introduction | In addition to the company’s announcement published on the Tadawul website on 08/15/1445 AH corresponding to 02/25/2024 regarding the company’s receipt of a notification from Saudi Aramco amending the prices of fuel products used in operating the company’s factories and the financial impact on the cost of production |
Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-02-25 Corresponding to 1445-08-15 |
Hyperlink to the Previous Announcement | Click Here |
Change on the Development | The company announces its joining the Industrial Sector Competitiveness Program, based on which the company signed an agreement with the program that includes providing several solutions that help raise the efficiency and type of energy sources used in industrial facilities, as the program will contribute to reducing production costs. The program was implemented in the Bisha Cement Factory only as a first stage. The financial impact on the company's production cost was a decrease of 1%. The company would like to confirm that it will work during the coming period to explore additional ways to raise production efficiency and reduce costs. |
Financial Impact on the change | Modifying the financial impact rate on the company from 12.5% to approximately 11.5% in production costs, starting from 01/01/2024. |
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