In a strategic move to strengthen economic collaboration, Saudi Arabia and Belarus have initiated a new partnership through a memorandum of understanding (MoU). This agreement, formed between the Federation of Saudi Chambers and Belarus’ National Center for Marketing and Price Studies, aims to enhance the exchange of trade, investment, production, and export information.
The MoU is poised to facilitate the expansion of Saudi and Belarusian companies into new markets, foster joint marketing research initiatives, and identify further opportunities for bilateral cooperation.
Amidst these developments, Saudi Cement stood out in December 2023 as a top exporter among five Saudi firms, collectively exporting 90,000 tonnes of cement. Originating from the Eastern Province, the company shipped approximately 56,000 tonnes in the concluding month of the year, as revealed by a report from Yamama Cement Co.
On the domestic front, the cement sector saw mixed results. Eight firms experienced an uptick in sales, with Arabian Cement at the forefront with a 55.9% increase, and Umm Al-Qura Cement not far behind, registering a 51.2% rise compared to December 2022.
Conversely, nine companies observed sales declines, with Northern Region Cement experiencing the steepest drop at 50.6%, and United Cement Industrial Co. seeing a 46.9% decrease in sales.
Overall, the total sales for Saudi cement enterprises, which include 17 companies, dipped by 5% in December 2023 when compared to the same period in the previous year. The sales volume reached 4.39 million tonnes, a fall from the 4.62 million tonnes recorded in December 2022.
As for clinker production, a marginal reduction of 0.9% was seen in December 2023, with production figures hitting 5.07 million tons, slightly down from 5.12 million in the same month of the previous year. Meanwhile, clinker stockpiles swelled to 39.9 million tons at the end of December 2023, marking a 13.9% increase from 35.1 million tonnes at the same point in 2022.