VOL. XXXVI

NO. 22

1-MARCH-1993

SAUDI ARABIA

SABIC Sets Up Polyster Joint Venture

The Saudi Basic Industries Corporation (SABIC) together with seven localcompanies and one Bahraini company on 20 February signed a joint ventureagreement to set up at Yanbu' a new polyester affiliate, Arabian IndustrialFiber Company. The joint venture, which will have an initial capital ofSR738.1mn ($196.83mn), is owned 51.7% by SABIC and 48.3% by the eight companies.These are the Saudi Arabian Fertilizer Company 10%,...