VOL. XXXIX

No. 12

18-December-1995

SAUDI ARABIA

Saudi Government Privatizes Ibn Rushd

The Saudi Minister of Commerce, Mr. Usama ibn Ja'far ibn Ibrahim Faqih, on 13 December issued a ministerial decision to transform the Arabian Industrial Fiber Company (Ibn Rushd) into a joint stock company, according to a report in the daily Saudi Gazette. The plan to privatize Ibn Rushd was unveiled at the end of May by the Saudi Basic Industries Corporation (SABIC) which has a 51.7% stake in Ibn...