VOL. XXXIX

No. 26

25-March-1996

SAUDI ARABIA

SABIC's Net Income Surges In 1995

The Saudi Basic Industries Corporation (SABIC) announced on 16 March a record net profit of more than SR6.28bn ($1.67bn) in 1995, up 49.5% on the 1994 figure of SR4.20bn ($1.12bn.) Announcing the record results, the Saudi Minister of Industry and Electricity and SABIC's Chairman, Dr. Hashim 'Abd Allah Yamani said that "1995 had been an outstanding year for SABIC during which several new projects had come on...