PHOTO
Cement sales in Saudi Arabia grew by around 60,000 tonnes in February over the previous months after hitting one of their highest levels in the fourth quarter of 2022.
Sales of the building material, which mirrors construction activity in the largest Arab economy, stood at around 4.215 million tonnes in February compared with 4.155 million tonnes in January, an increase of about one percent, Alyamama Cement Company said in a report published on Tuesday.
Sales by the Gulf Kingdom’s 17 cement firms stood at nearly 4.626 million tonnes in December, around 4.774 million tonnes in November and as high as 4.954 million tonnes in October, the report showed.
The rise in February was at the expense of cement exports, which slumped to 119,000 tonnes from 174,000 tonnes in January, according to the report which did not specify reasons for slowdown in 2023.
Saudi Arabia, which sits atop the world’s second largest proven oil deposits, is the top Arab cement producer, with output of more than 50 million tonnes per year.
(Writing by Nadim Kawach; Editing by Anoop Menon)
