Saudi Arabia considering lifting partial export bans on cement

Reuters has reported that Saudi Arabia is considering dropping partial export bans on cement to relieve oversupply in the local market.

The Saudi government are considering whether or not to ease restrictions on cement after local production doubled to exceed the storage capacity of the kingdom's largest companies.

The Saudi government originally imposed a ban on cement exports in 2008 to push prices down and accommodate demand from large government-funded infrastructure projects.

New activity in the Saudi construction sector has slowed down recently as a slump in oil prices has forced the government to cut spending on non-essential projects.

Edited from source by Joseph Green. Source: Reuters

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