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Regions :: Middle East

Sahara, Alujain, and Saudi Industrial report more than doubled second-quarter net profits

11:53 AM MDT | July 18, 2013 | Natasha Alperowicz

Sahara Petrochemical Co. (Riyadh) reports a more than doubling in its second-quarter net profit, to 126.7 million Saudi riyals ($33.8 million), compared with SR54.3 million the year-before. The quarterly operating profit was SR100.3 million compared with an operating loss of SR13.2 million in the second quarter of 2012. Sahara says this was mainly due to improvement in Al Waha’s operations. Al Waha, a producer of propylene and polypropylene (PP), is a joint venture between Sahara and LyondellBasell Industries. It operates a 450,000-m.t./year PP plant...

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