VOL. XLIV

No. 06

5-February-2001

SAUDI ARABIA

Saudi-Backed Venture LaunchesPolyester Project In Egypt

A new project to build a $550mnpolyester plant in Alexandria was launched last month by the Saudi EgyptianPetrochemical Company (SEPCO), a Saudi backed joint venture. SEPCO痴 Chairmanand Managing Director Ahmad Badib told Asharq al-Awsat that the EgyptianGeneral Petroleum Corporation (EGPC) intends to acquire a 10% stake in theproject and that the company will shortly invite investors from Saudi...