VOL. XLVII

No 21

24-May-2004

SAUDI ARABIA

SEC Approves Maaden Privatization

A meeting of Saudi Arabias Supreme Economic Council (SEC) on 18 May chaired by Crown Prince Abd Allah ibn Abd al-Aziz approved the privatization of the state-owned Saudi Arabian Mining Company (Ma'aden). The companys chairman, Abd Allah al-Dabbagh, told Asharq al-Awsat on 18 May that privatization would be carried out in stages, after the reorganization of the company into four strategic units handling: precious and basic...