The Saudi Al-Lajin Company recently revealed plans to sell 40 percent of the National Propylene Manufacturing Co. (also referred to as the Al-Fasel project) in the near future.
The aforementioned stakes will be made available to both joint stock investors and individual buyers, according to Al-Hayat daily.
The Al-Fasel project, which will be established in the Yanbu Industrial Estate, is expected to yield a 20 percent yearly rate of return.
Al-Lajin, which controls approximately 25 of the project, estimates its total cost at SR 1.35 billion ($276 million). –(MENA Report)
© 2001 Mena Report (www.menareport.com)
