VOL. XLI/VOL. XLII
New License for Saudi Private Petrochemical Company
The Saudi Ministry of Commerce has granted a license to a group ofSaudi investors to establish a new venture the National Petrochemical IndustriesCompany. The company is capitalized at SR228mn ($60.8mn) and is majority owned by theSaudi firms Alujain Corporation (41%), and Xenel Industries (40%). The founders have paidin SR57mn ($15.2mn), or 25% of the capital. The...