The Saudi Gulf Metal Plates company, Sabaek, recently decided to shut down its Jubail industrial estate factory and discharge 138 employees, 18 of whom were Saudi citizens, according to Al-Hayat daily.
Sabaek has experienced heavy losses due to rising electricity costs, which make up 35 percent of the company’s production expenses. A total of 16 Saudi, Gulf and international firms own the closed-end joint stock Sbaik company. — (MENA Report)
© 2001 Mena Report (www.menareport.com)
