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Saudi Kayan's Losses Mount as It Prepares for Start-up

6:30 AM MDT | July 12, 2011 | Natasha Alperowicz

Saudi Kayan (Jubail, Saudi Arabia) reported a net loss of SR16.01 million ($4.3 million) in the second quarter ended June 30, 2011. This compares with a net loss of SR1.8 million in the second quarter of 2010 and a net loss of SR8.33 million in the first quarter of this year. Kayan, a Sabic affiliate, is currently building a huge petrochemical complex in Jubail, which will produce many specialties hitherto not manufactured in Saudi Arabia.   Net loss in the first six months was SR24.34 million compared with a net loss of SR5.57 million in the first six...

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