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Alujain Reduces Net Losses in Second Quarter

10:18 AM MDT | July 21, 2010 | Natasha Alperowicz

Alujain Corp. (Jeddah, Saudi Arabia) reported a net loss of SR7.3 million ($1.94 million) in the second quarter of this year compared with a SR9.04 million loss in the same period of 2009. The net loss, however, was bigger than the SR6.7-million loss it reported in the first quarter of this year. Alujain is a private-sector company that promotes and develops  projects in the petrochemicals, mining, metals, and energy sectors. It is majority owner of NatPet,a polypropylene producer at Yanbu, Saudi Arabia. Alujain's gross income in the second quarter reached...

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