Cement demand in Saudi Arabia is expected to rebound after falling by 9 percent to 47.26 million tonnes in 2023, driven by the giga project boom and infrastructure development,

Tadawul-listed City Cement Company said in its latest sustainability report for 2023.

The ongoing construction boom fuelled by major projects such as Qiddiya, Diriyah Gate, NEOM, The Red Sea and AMAALA will create substantial demand, the cement producer said.

Saudi Vision 2030, with its ambitious focus on infrastructure and urban development, is set to stimulate demand further.

The company said it believed that the growth of the housing mortgage sector in the Kingdom will escalate the need for cement for construction activities.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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