Sales of cement increase in Saudi Arabia

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Sales of cement increase in Saudi Arabia

06 Jul 2009

The cement market in Saudi Arabia has been good this year and demand for the building material is likely to "remain strong", according to experts in the sector.

Credit Suisse and HSBC Saudi Arabia reports showed that the Saudi cement sector is one of the best in the Gulf Cooperation Council (GCC) region.

They noted that there is a favourable cost structure and that many producers are likely to experience high operating rates via exports, reports the Saudi Gazette.

HSBC commented: "This pace of growth has not been replicated elsewhere in the GCC."

Credit Suisse pointed to the forthcoming mortgage law in the country as something that could provide a further boost to the sector.

It said that this could increase the demand for and construction of residential property.

A recent study conducted by Credit Suisse asserted that if all the expected projects in Saudi Arabia continue to go ahead then demand for cement is likely to increase in the Middle Eastern country, reports Emirates Business 24/7. ADNFCR-1127-ID-19251011-ADNFCR