ArabFinance: General Company for Ceramic and Porcelain (Sheeni Egypt) (PRCL) announced that Egyptian Cabinet’s decision regarding raising prices of natural gas would impact the company’s cost of production, according to a statement filed to the Egyptian Exchange (EGX).

The company’s cost of production is expected to initially increase by around EGP 260,000 per month, Sheeni Egypt highlighted.

The company is currently evaluating the indirect impacts of the price increase on raw materials and the remaining production factors.

This comes after the Cabinet announced that the price of natural gas for industries increased by $0.25 per million British thermal unit (mmBTU), equivalent to about 5.5%.

Sheeni is an Egypt-based company engaged in the manufacture and sale of ceramic and porcelain products. It produces porcelain tableware for domestic and hotels, and antiques and vases, as well as ceramic floors and walls.