NO. 23


Saudi Arabia

SABIC's 1993 Income Rises 8%

The Saudi Basic Industries Corporation (SABIC) on 26 February announced thatits net income in 1993 rose 7.8% to SR2.117bn ($564.4mn) from SR1.964bn($523.8mn) in 1992. In his address to the SABIC board meeting, the SaudiMinister of Industry and Electricity and SABIC's Chairman, Mr. 'Abd al-'Aziz al-Zamil,said that the "downturn in the global petrochemical market had continuedduring the year and therefore the increase in...