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Saudi Arabia lifts ban on cement and steel exports-The 17th China(Guangzhou) International Tube&Pipe Expo
4/14/2016 Tube&Pipe exhibition |
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Reuters reported that Saudi Arabia has lifted a ban on exporting cement, a senior industry official was quoted as saying on Tuesday, while an industry source indicated a similar ban on steel has also been eased. The relaxing of the bans comes as the kingdom''s construction industry is suffering from the impact of lower oil prices, which has resulted in the government cutting back on spending on many projects.
Ahmed bin Abduh Zugail, who is chief executive of Yanbu Cement Co and the deputy head of the national committee of cement companies, told the Al Riyadh newspaper that cement companies welcomed the move but were awaiting details of the new rules from the Ministry of Commerce.
The Saudi government imposed a ban on cement exports in 2008 to push prices down and accommodate demand from large government-funded infrastructure projects, although some companies were allowed to export at prices lower than those in the local market.
Steel rebar exports have been similarly restricted. However, an industry source said the ban on such construction rods had been lifted around 10 days ago. He declined to comment further.
The Makkah newspaper reported that among the conditions which both cement and steel firms would have to meet to export goods would be paying the difference in energy costs between the local and international market.
-The 17th China(Guangzhou)
International Tube&Pipe Expo
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