Riyadh - Mubasher: The head of the Saudi National Committee for Cement Companies, Jihad Al Rashid said that the market needs only four big companies to cover its demand.
Al Rashid added in his remarks to Al Eqtisadiah newspaper on Monday that the Saudi market does not need 17 cement companies, which supports the idea of mergers between many of the existing companies.
Owners and shareholders are seriously studying and considering the idea, he noted, adding that mergers will help the government and the public sector in regulating the market, and will also promote growth and expansion across the kingdom.
It is worth noting that recently, Arabian Cement began talks for a potential merger with Al Safwa Cement Company.
