SAFCO’s new urea facility delayed to June-end

04/05/2015 01:21 AST

The start-up of a new urea plant owned by Saudi Arabia Fertilizers Co. (SAFCO) has been pushed back further and is now expected by the end of June, SAFCO said.

“The plant is still in the trial operations stage and a few required repairs are being done now to complete testing the performance and efficiency,” SAFCO said.

“This stage is expected to be extended to the end of June and therefore handover of the project and the announcement of commercial operations will be delayed to that date.”

The company said the delay would not increase the cost of the plant.

SAFCO, a unit of Saudi Basic Industries Corp. (SABIC), said in March that the start-up of its urea plant in Jubail, known as SAFCO 5, would be delayed to mid-May this year.

The plant, which has an annual production capacity of 1.1 million tons of urea, was originally scheduled to start up in the third quarter of 2014 but was delayed by construction work falling behind the original timetable.


Reuters

News

Saudi's SAFCO continues earnings slump

18/10/2016

Saudi Arabia Fertilizers Co (SAFCO) missed analyst forecasts and extended its earnings slump on Monday, reporting a 68 percent decline in third-quarter net profit.

SAFCO, a unit of Saudi Bas

Gulf Times

Safco, Sabic, hire investment banks to advise on Ibn Al-Baytar sale

11/10/2016

Two Saudi petrochemical giants have hired investment banks to advise on the potential sale of a stake in the Ibn Al Baytar fertiliser company. Saudi Arabia Fertilisers Co (Safco) has hired Samba Capi

Gulfnews

Safco extends earnings slump

24/07/2016

Saudi Arabia Fertilizers Company (Safco) met analyst forecasts on Thursday but extended its earnings slump, as its second-quarter net profit halved year on year as product prices remained low.

Trade Arabia

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

SAFCO Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
SABIC 114.77 0.02 (0.01%)
MAADEN 53.50 0.77 (1.46%)
YANSAB 71.78 1.14 (1.61%)
KAYAN 13.87 0.06 (0.43%)
NIC 20.21 0.42 (2.12%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap