AMAK joins Industrial Sector Competitiveness Program

One of AMAK's facilities

Almasane Alkobra Mining Co. (AMAK) joined the Industrial Sector Competitiveness Program after signing an agreement that grants several solutions to help improve the efficiency and types of energy sources used in industrial facilities.

The program will contribute to reducing the company’s production costs, AMAK said in a Tadawul statement today, March 13.

For more news on listed companies

As a result, the direct financial impact on the cost of sales will decrease from a previously estimated 2.5-3% increase to 1% henceforth.

The financial impact will be reflected in Q1 2025 results, AMAK added.

In January, AMAK received a notice from Saudi Aramco on the adjustment of prices of fuel products used in cement production, effective as of Jan 1. The move was poised to lead to a 2.5% rise in AMAK’s production costs, according to Argaam data.