More Articles from
Saudi Najran Cement suspends second production line
05 March 2017
Saudi Arabia's Najran Cement has temporarily suspended a 3,000 tonnes per day clinker production line due to weak market conditions, the Al Arabiya channel reported last week.
The company cited low demand and growing clinker inventory as the main reasons for suspending production, the report said.
The financial impact of this decision will be announced in the first quarter of 2017, it added.
Company CEO Badr Jawhar recently said the company's inventory reached three million tonnes, which is the equivalent to a full year's sales.
In January 2017, Zawya Projects reported that competition among the Kingdom's 12 major cement companies has escalated after prices plunged to one of their lowest levels and projections that local consumption will shrink by nearly 20 percent in 2017.
(Reporting by Nada Al-Rifai)
© Zawya Projects News 2017