Tasnee sees 2.5% rise in associates’ cost of sales on feedstock price hike

National Industrialization Co. (Tasnee) was notified by Saudi Aramco about an increase in some feedstock prices starting from Jan. 1.

In a statement to Tadawul, Tasnee said it expects a 2.5% rise in the total cost of sales of associates and joint ventures, according to the latest audited financial statements.

The financial impact is seen to show in Q1 2024.

The company is working to enhance operations and marketing performance, and increase productivity in all its facilities, the statement added.