Saudi Arabia: Dr Tawfiq Fawzan Al-Rabea, Minister of Commerce and Industry in Saudi Arabia, has asked cement producers to build a 'strategic' reserve of two months inventory at each plant and to cover any shortage by importing cement.
At a meeting with local cement producers, which was held to ensure that companies are abiding by their commitments to import cement, Al-Rabea said that the ministry is monitoring the imported quantities and that the companies must import the quantity specified for them in line with the local market needs. He added that any delay or disregard of their commitments would be penalised.
Meanwhile, Dr Zamil Al-Muqrin, Chairman of the National Committee for Cement Companies, said that the firms have corresponded with the international companies and the first quantities of imported cement will reach the Kingdom within two weeks.
