NO. 33


Saudi Arabia

SAFCO Reports Steady Profits

The Saudi Arabian Fertilizer Company (SAFCO) in 1989 realized a profit ofSR161mn ($43mn) slightly down from SR166mn ($44mn) in 1988, according to thecompany's 1989 Annual Report. The company, which has a fully paid up capital ofSR200mn, owned 41% by the Saudi Arabian Basic Corporation (SABIC) and 59% by theprivate sector, plans to distribute a SR15/share dividend to its shareholders.SAFCO in 1989 produced 205,000 tons of...