The Saudi Minister of Electricity and Industry and the Chairman of the Board of the Saudi Basic Industries Company (SABIC), Hashem Yamani, stated recently that the giant industrial conglomerate SABIC operates a total of 90 factories in 18 industrial complexes with a production capacity of 36 million tons per annum. This figure is expected to grow to 48 million tons per annum by 2010, reported Al-Watan. — (menareport.com)
SABIC generated more than 60 billion Saudi Riyals ($16 billion) in revenues over the past 20 years, the official said. SABIC’s share in these revenues totaled SR 42 billion, whereas the state’s share amounted to SR 16 billion. SABIC exports its output to more than 100 states worldwide. Its foreign currency returns are equivalent to Saudi Arabia’s total foreign currency returns from exporting non-petroleum industrial goods. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
