13-03-2025
AMAK joins Industrial Sector Competitiveness Program
Almasane Alkobra Mining Co. (AMAK) joined the Industrial Sector Competitiveness Program, according to a Tadawul statement.
The program will contribute to reducing the company's production costs, the company said in a Tadawul statement today, March 13.
As a result, the direct financial impact on the cost of sales will decrease from a previous increase of between 2.5% and 3% to an increase of 1% only.
The financial impact will be reflected in Q1 2025 results, the company said. In January, AMAK received a notice from Saudi Aramco on the adjustments of prices of fuel products used in cement production, effective as of Jan 1.
The move would lead to a 2.5% rise in production costs, according to Argaam data.
