VOL. XLV

No 31

5-August-2002

SAUDI ARABIA

SABICProfits Tumble 51% in 2001

Saudi Basic Industries Corporation (SABIC), in its 2001 Annual Report, announced thatprofits had fallen to SR1.78bn ($474.7mn) in 2001, down 51% from the previousyears SR3.63bn ($968mn). The fall came despite a climb in the petrochemicalproducers sales revenues (SR28.77bn - $7.67bn versus SR26.66bn - $7.11bn) anda 28% climb in product sales volumes (27mn tons versus 21mn tons MEES, 29 March). SABIC Vice-Chairman Muhammad...