Riyadh – Mubasher: Saudi Arabia-based Al Jouf Cement Company has signed an agreement with Palestine’s Sanad Trading and Marketing to export 50,000 tonnes of cement and clinker per year.

The deal’s financial impact will start to appear in mid of the fourth quarter of 2018, according to Al Jouf Cement’s statement on Wednesday to the Saudi Stock Exchange (Tadawul).

In August, the Saudi cement provider inked a memorandum of understanding (MoU) with the Palestinian firm to export clinker and cement to it.

Al Jouf Cement last reported suffering a net loss of SAR 13.7 million during the second quarter of 2018, against a profit of SAR 10.5 million during Q2-17.

The Tadawul-listed firm also incurred SAR 9.6 million in losses in H1-18, against a profit of SAR 26.8 million in H1-17.

Al Jouf Cement’s stock levelled down 1.54% to end Tuesday’s trading session at SAR 7.68.