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Mar 21 2012

More cement reaches market

By KHALID TAWALBEH RIYADH: Southern Cement Company Chairman Prince Abdullah bin Musaed bin Abdurrahman Al-Saud said the company has started implementing the royal decree related to cement prices.

This follows the directives of Custodian of the Two Holy Mosques King Abdullah and Crown Prince Naif, deputy premier and minister of interior, which highlight the importance of providing fuel for the operation and expansion of cement factories in the Kingdom, and providing additional quantities of fuel to the companies with plans for increased production.

Addressing the company's General Assembly meeting -- its 35th ordinary meeting -- held yesterday at the general administration building of the company in Abha, the prince said that the availability of additional fuel has enabled cement factories to produce more and improve its market supplies, thus checking the price-rise.

The meeting approved distribution of SR875 million profits for the shareholders for 2011.

© Arab News 2012

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