Middle East Economic Survey


No 18


Saudi arabia

NPIC Capital Increased To $533Mn

The general assembly meeting of National Petrochemical Industrialization Company (NPIC-Tasnee Petrochemicals) on 20 April agreed to increase the companys capital from SR500mn ($133.3mn) to SR2bn ($533.3mn). This increase will finance NPICs future projects such as: the ethylene and polyolefin complex, and the methanol and acetic acid plant. NPICs 2005 first quarter profits reached approximately...