City Cement predicts 8% cost increase

City Cement has said that its total costs are expected to advance by eight per cent following the increase in the price of fuel products used in cement products that was announced by Saudi Arabian Oil Co (Aramco) last month.

According to Mist News, the direct financial impact is expected to be seen from the first quarter of 2024, although the company added that its investments in alternative fuel and waste heat recovery systems had helped to mitigate some of the fuel price increase.