Middle East Economic Survey

VOL. XLVIII

No 17

25-April-2005

SAUDI ARABIA

SAFCO 1Q2005 Results Reach $63Mn

The Saudi Arabian Fertilizer Company (SAFCO), a SABIC affiliate, announced on 14 April that its 1Q2005 net profits reached SR236.3mn ($63mn), up by 102% from the SR116.8 ($31.14mn) posted in the same period in 2004. SABIC Vice Chairman and Chief Executive Officer Muhammad al-Mady declared that SAFCO expansion project implementation works were on track; and that commercial production should...