UAE: Fujairah Cement’s revenue fell by 8% year-on-year to US$93.6m in 2023 from US$102m in 2022. It reported a net loss of US$72.3m, up by 85% from a loss of US$39.2m. The company blamed the situation on higher production costs due to rising coal and fuel prices. It said that it plans to increase its cement sales volumes domestically and internationally to improve its capacity utilisation rate. It operates an integrated cement plant at Dibba in Fujairah Emirate.
Fujairah Cement’s loss grows in 2023
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