NO. 22


Saudi Arabia

SABIC's Net Income Almost Doubled In 1994

The Saudi Basic Industries Corporation (SABIC) announced on 18 February thatits net income increased to over SR4bn ($1.07bn) in 1994, up SR1.9bn ($507mn),or 88.9%, from SR2.117bn ($565mn) in 1993. Announcing the record results at aboard meeting, the Saudi Minister of Industry and Electricity and SABIC'sChairman, Mr. 'Abd al-'Aziz al Zamil, said that "increased production andsales, coupled with a global...