Saudis to start exporting phosphates in Dec
(Reuters
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27/01/2010)
A Saudi port will begin exporting phosphates in December from a plant jointly owned by Saudi Arabia Mining Co (Maaden) and Saudi Basic Industries Corp (Sabic), a Saudi newspaper reported. The Ras Al-Zour port, built at a total cost of 2.27 billion riyals
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Qatar Steel Company signed Contract with INTECO Austria
(Press Release
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26/01/2010)
Qatar Steel Company, a subsidiary of Industries Qatar, has signed a Project Management Contract with INTECO of Austria for the upgrading of the existing steel melt shop. In a signing ceremony that took place at Vienna, on 25th January 2010, Qatar Steel’s
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Sabic sales rise by 29pc
(Gulf Daily News
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24/01/2010)
Saudi Basic Industries Corporation (Sabic), which reported forecast-beating net profit for the fourth quarter, increased its sales for the period by 29.3 per cent while its costs rose 3.7pc. Sabic's sales netted 31.9 billion Saudi riyals ($8.51bn) in the
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SABIC to embark on new projects: Al-Mady
(Arab News
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21/01/2010)
The increased profits in the fourth quarter results of the Saudi Basic Industries Corp. (SABIC) has given clear signals for its continued prosperity during the current year, Mohamed Al-Mady, chief executive of SABIC who is hopeful for year 2010, told
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Region’s largest listed firm soars
(The National
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21/01/2010)
Saudi Basic Industries Corporation (SABIC), the largest listed firm in the Middle East, soared to a 15-month high as investors filled up on shares of the petrochemical giant. Investor sentiment was lifted by SABIC’s fourth-quarter earnings report, which
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SABIC profits surge as sales volumes rise
(Reuters
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20/01/2010)
Saudi Arabian Basic Industries Corp. (SABIC), the world’s top chemical company by market value, said its net profit soared in the fourth quarter, thanks to higher prices and sales volumes for most its products. SABIC made SR4.58 billion ($1.22 billion)
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Saudi Kayan awards amines plant deal
(Reuters
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20/01/2010)
Saudi Kayan Petrochemical Company said on Tuesday it has awarded Taiwan’s CTCI Corp a deal to manage the construction of a 210,000 ton per year (tpy) amines plant at its mega complex. Mutlaq Al-Morished, Kayan’s chairman, told Reuters that CTCI won the
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Sabic Rises to October 2008 High as Earnings Beat Estimates
(Bloomberg
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20/01/2010)
Saudi Basic Industries Corp. climbed to the highest in more than a year after the world’s largest petrochemicals maker said fourth-quarter profit surged more than expected. The shares added as much as 2.2 percent to 91.25 riyals. They traded at 90.25
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Sinopec-SABIC completes $2.68 billion joint venture financing
(Reuters
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19/01/2010)
Saudi Basic Industries Corp (SABIC) said on Monday that its joint venture with China''s Sinopec has obtained financing worth a total of 2.68 billion US dollars for their Tianjin petrochemical complex. SABIC also said in a statement that it has started
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Sipchem net profit grows 63 per cent
(Gulf Daily News
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18/01/2010)
Saudi International Petrochemicals Company (Sipchem) posted a 63 per cent rise in fourth-quarter net profit on higher prices and output, boding well for its bigger rival Saudi Basic Industries Corporation (Sabic). Sipchem made 56.5 million Saudi riyals
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SABIC affiliate signs USD 1.8 bln agreement with Chinese banks
(KUNA
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18/01/2010)
Saudi Basic Industries Corporation (SABIC) announced on Monday the signing of a long-term USD 1.8 billion agreement with a number of Chinese banks and financial institutions. According to an official SABIC statement, the Saudi giant petrochemical
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Sabic, Sinopec Sign $2.68 Billion Financing for Tianjin Plant
(Bloomberg
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18/01/2010)
Saudi Basic Industries Corp. and China Petroleum & Chemical Corp. signed a long-term financing deal for their Tianjin petrochemical plant, the Saudi company said in a statement to the bourse today. The accord includes $1.8 billion long-term financing and
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Sinopec-Sabic JV wins $2.68bn financing
(Reuters
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18/01/2010)
Saudi Basic Industries Corp (Sabic) said on Monday that its joint venture with China's Sinopec has obtained financing worth a total of $2.68 billion for their Tianjin petrochemical complex. Sabic also said in a statement that it has started trial
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Alcoa helps Maaden's 183pc rise in profit
(Reuters
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18/01/2010)
Saudi Arabian Mining Co (Maaden) posted a 183 percent rise in fourth-quarter net profit, helped by an $80 million cash injection from US aluminium producer Alcoa, which joined its smelter project. Maaden made 342.8 million riyals ($91.4 million) in the
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Saudi Kayan Petrochemical Posts Quarterly Loss of 366,000 Riyals
(Bloomberg
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16/01/2010)
Saudi Kayan Petrochemical Co., the company building the world’s biggest ethylene-glycol plant, posted a fourth-quarter loss of 366,000 riyals ($97,600), compared with a loss of 8.4 million riyals in the year-earlier period, the company said in a
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Yanbu National Reports Fourth-Quarter Loss of 7.3 Million Riyals
(Bloomberg
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16/01/2010)
Yanbu National Petrochemical Co., a unit of Saudi Basic Industries Corp., reported a fourth-quarter loss of 7.3 million riyals ($2 million), compared with a loss of 7.6 million riyals in the year-earlier period, according to a company statement on the
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Saudi Kayan reports Q4 loss, improved on year
(Reuters
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16/01/2010)
Saudi Arabias Kayan Petrochemical Company on Saturday reported a fourth-quarter net loss of 0.37 million Saudi riyals ($98,660), down from an 8.36 million riyals loss in the same period a year earlier. Kayan, a unit of Saudi Basic Industries Corporation
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Plant shutdown hits SAFCO profit
(Reuters
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12/01/2010)
Saudi Arabian Fertilizers Co’s (SAFCO) fourth-quarter net profit fell to its lowest level in almost three years after a maintenance shutdown cut output. The near 30 percent fall in fourth-quarter profit to SR376 million ($100 million) from a year earlier
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Safco Fourth-Quarter Net Falls 30 Percent to 376 Million Riyals
(Bloomberg
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11/01/2010)
Saudi Arabian Fertilizer Co. said fourth-quarter net income fell 30 percent to 376 million riyals ($100.3 million), according to a statement to the Saudi bourse.
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Safco profit falls below forecasts
(Reuters
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11/01/2010)
Saudi Arabian Fertilizers Company (Safco) said its net profit fell by a worse-than-expected 29.9 percent in the fourth quarter after plant maintenance slashed output. Safco made 376 million riyals ($100.3 million) in the three months to end-December down
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Chemanol in SAP software upgrade
(Trade Arabia
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11/01/2010)
Chemanol, one of the leading producers of methanol-based chemicals in Saudi Arabia, said it has become the first company in the Kingdom to fully upgrade its SAP software system. SAP’s upgrading process is managed in such a way that manufacturers can
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First VAM shipment from Sipchem
(Arab News
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10/01/2010)
The Saudi International Petrochemical Co. (Sipchem) on Saturday announced the export of its first vinyl acetate monomer (VAM) shipment to European markets. The International Vinyl Acetate Company (IVC), a Sipchem affiliate, produced the shipment, which
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Foreign firms revise bids for Saudi Kayan's plant -sources
(Reuters
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09/01/2010)
Four international firms, including the US Fluor Corp , submitted on Saturday revised bids to build a petrochemical plant in Saudi Arabia, sources said. South Koreas Hyundai Engineering and Construction, Daelim Industrial Co 00210.KS and Taiwans CTCI
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