National Industrialization Co. Announces receiving notification regarding the increase in feedstock prices

National Industrialization Co. Announces receiving notification regarding the increase in feedstock prices

Announcement Detail

National Industrialization Company TASNEE announces that it has received a notice from Saudi Arabian Oil Company (Saudi Aramco) regarding an increase in some feedstock prices starting from the 1st of January 2024. The financial impact of this notice is expected to be an increase in the total cost of sales by 2.5% of the associates and joint venture companies, according to the latest audited financial, and it is expected to be reflected starting from the 1st quarter 2024 financials. The company is working to enhance operations and marketing performance and increase productivity in all its facilities.

National Industrialization Co. Announces receiving notification regarding the increase in feedstock prices