VOL. XLV

No 33

19-August-2002

SAUDI ARABIA

SEC Posts Losses Of $183Mn In First Half 2002

The Saudi Electricity Company(SEC) has posted a loss of SR686mn ($183mn) for the first half of 2002. Theloss in the first quarter was SR411mn ($109.7mn) with a slight improvement inthe second quarter to a loss of SR275mn ($73.3mn). The company, which posted aprofit of SR779mn ($207.7mn) in the 21-month period up to the end of 2001 (MEES, 13 May), said that it expectedperformance to improve in the third...