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National Building and Marketing Co.'s Ajeej Steel to Face SAR3.5 Million Annual Hit from Higher Electricity Tariff

MT Newswires·10/28/2026 09:52:45
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09:52 AM EDT, 10/28/2026 (MT Newswires) -- National Building and Marketing Co. (SASE:9510) preliminarily expects its subsidiary, Ajeej Steel & Manufacturing Co., to face an annual financial impact of 3.5 million Saudi riyals from an upcoming increase in the electricity consumption tariff in Saudi Arabia in 2027. Meanwhile, the building materials trading company said Wednesday that no material financial impact is expected from water consumption, since that tariff is unchanged. The company said it is currently evaluating available options to mitigate the higher costs and improve operational spending efficiency.