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Cement sales in Saudi Arabia reached 4.38 million tonnes last month, rising 10 percent year-on-year and 19.2 percent month-on-month in August 2022, AlJazira Capital said in its latest report.
Likewise, cement exports surged 34 percent to 788,000 tonnes in August, compared to 588,000 tonnes in the same month last year.
Yamama Cement Company and Arabian Cement Company recorded the highest sales increase of 64 percent and 29.5 percent year-on-year, respectively.
On the other hand, Northern Cement Company and Eastern Cement Company registered the highest declines of 26.7 percent and 23.4 percent year-on-year, respectively.
Clinker inventories stood at 35.8 million tonnes, up 5.2 percent year-on-year, but slipped 0.5 percent month-on-month at the end of August 2022.
The total utilisation rate of the Kingdom's cement sector increased to 68.1 percent in August 2022, compared to 67.5 percent in August 2021, the brokerage said.
According to Knight Frank, more than $1 trillion worth of projects have been rolled out in Saudi Arabia since the launch of the Vision 2030 strategy.
(Writing by D Madhura; Editing by Anoop Menon)
