Saudi Cement Company will cut its production costs by nearly half after joining the competitiveness programme to promote sustainable production practices.

The company said the Industrial Sector Competitiveness Programme, launched earlier this year, helped mitigate the impact of Aramco’s hike in fuel product prices effective from 1 January.

The impact of the fuel hike on the cost of production was about 13 percent; after signing the Programme agreement, its impact is expected to reduce to nearly 7 percent.

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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