Riyadh – Mubasher: Saudi Arabia-based Tabuk Cement Company on Sunday announced signing a memorandum of understading (MoU) with Yemen to export cement.

Under the three-month deal, the Saudi firm will export 6,000 tonnes of cement to Yemen, according to a filing to the Saudi Stock Exchange (Tadawul).

Tabuk Cement last reported a 57.2% year-on-year loss increase during the third quarter of 2018, reaching SAR  19.19 million, up from SAR 12.2 million in Q3-17.

During the first nine months of 2018, Tabuk Cement’s net losses deepened by 2,881% to SAR 66.49 million, from SAR 2.23 million in the same period last year.

The stock fell 1.89% to close Sunday at SAR 11.44.