VOL. XLI

No. 22

1-June-1998

SAUDI ARABIA

Arabsat Reports $54Mn Profit And Seeks Investors

Arabsat, the Riyadh-based satellite operator which is owned by 21 Arab countries, hasrealized a profit of over $54mn in 1997, of which 20% will be distributed to theparticipating states and the rest used to finance future projects, according to Arabsat'schief, Mr. Sa'ad al-Shahri. Arabsat is also planning tolaunch a new third generation satellite in March 1999. Mr. Shahri told Arabsat's generalassemly...