Riyadh-Mubasher: Saudi Arabia’s Minister of Commerce Tawfiq Al-Rabiah promised to study the cement export issue after meeting a delegation from local cement companies to explain the negative impacts from export ban, sources told a local newspaper.
During the meeting held last Wednesday, the delegation highlighted the negative effects of accumulated stockpile in factories and the halt of some ovens and production lines, and thus companies fail to pay cash dividends to shareholders whose number exceed 2 million, Al-Watan newspaper reported.
The delegation said the reasons behind cement ban have disappeared, noting that the continued ban will lead Saudi cement firms to lose their traditional markets abroad, and thus the kingdom will lose the hard currencies generated from exports.
Two local cement companies have stopped their ovens in less than one month due to the current market conditions.
Turki Al Toaimi, spokesman of the ministry of commerce, earlier said the government does not ban cement export, but companies should comply with certain regulations in this regard.
The ministry set some conditions for the export; the adequacy of supply in the domestic market, abundant inventory of clinker and cement and not raising prices for consumers.
