VOL. XLI

No. 18

4-May-1998

SAUDI ARABIA

Japanese Consortium Invests In Saudi Textile Project

Al-Ahsa Development Company of Saudi Arabia announced on 30 April that it had signed adeal to set up a textile project worth SR160mn ($42.7mn) with a Japanese consortium led byMarubeni Corporation. The consortium will have a 23.5% stake in the project and al-Ahsathe remaining 76.5%. Half the cost of the project will be financed by a soft loan from theSaudi Industrial Development Fund. The Saudi Basic...