RIYADH: Saudi Arabia’s Ministry of Commerce issued 10 licenses to export cement in the first seven months of 2022, Al-Eqtisadiah reported.
The new licenses come as construction activity begins to recover following the postponement of many projects during the coronavirus disease pandemic.
A surge in construction activities due to The Red Sea Development Co., AMAALA and other development projects in Saudi Arabia such as NEOM and Qiddiya is expected to drive the recovery of the cement industry.
The number of licenses to export cement has reached 112 since the Kingdom lifted a five-year ban in 2016.
The cement market in Saudi Arabia is concentrated with 17 market players in the country, according to Argaam.
Saudi-based Al-Emar Group Chairman Abdullatif Saleh Alsheikh points out that the country’s cement companies are currently operating at around 60 percent of their total capacity. “This leaves room for growth as companies reach full production potential,” added Alsheikh.