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Saudi Arabia (751)


Safco appoints new president
Saudi Arabian Fertilizers Co. (Safco), a Sabic affiliate, has announced that its board of directors has approved Ahmed bin Mohamed Al Gabr as president, effective 1 April. Al Gabr succeeds Abdullah Ali Al Bakr, who has reached the retirement age and whose...

Sadara and Bavarian partnership sign cooperation agreement for PlasChem Park
Sadara, a joint venture between Saudi Aramco and Dow Chemical, and Chemie-Cluster Bayern (CCB) have announced that they have signed an agreement to cooperate and jointly support the development of chemical based value chains in PlasChem Park at Jubail, Saudi...

Tasnee signs financing agreement to fund acquisition of additional shares in Cristal
National Industrialization Co. (Tasnee) said today that it signed an Islamic Murabaha financing agreement for 1.2 billion Saudi riyals ($319.4 million) with each the Riyadh Bank and the Saudi British Bank. The agreement has a competitive floating-rate...

Satorp reports large quarterly and annual losses
Saudi Aramco Total Refining & Petrochemical (Satorp), a joint venture in which Aramco holds 62.5% and Total the balance, has announced an increase in quarterly and annual net losses. Net loss in the fourth quarter was 71.37 million Saudi riyals ($19.0...

Ma'aden shuts ammonia plant for 30-day maintenance
Saudi Arabian Mining Company (Ma’aden) has announced that its subsidiary Ma’aden Phosphate Co., (MPC) will shut down its ammonia plant located at Ras Al Khair City, Saudi Arabia for a scheduled maintenance. MPC, owned 70% by Ma’aden and 30%...

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