Saudi ministry issues 16 cement export licenses, 4 under study

Saudi Arabia's Ministry of Commerce and Investment (MOCI) has issued 16 steel and cement export licenses, following the Kingdom’s decision to cancel all export duties on steel and halve cement export tariffs, Al-Eqtisadiah newspaper reported Wednesday, citing Fahd Al-Huthaili, the supervisor of consumer protection at the ministry.

Of these 16 licenses, six were granted to Northern Region Cement Co., Jouf Cement, Tabuk Cement, Southern Province Cement, Hail Cement and Najran Cement.

Al-Huthaili added that the ministry is currently studying four other export applications for cement and steel plants.

In July, Saudi Arabia said it would cancel all export duties on steel for two years and slash cement export tariffs by 50 percent to encourage local industries and producers, and enhance competition, Argaam reported.