JEDDAH, 22 July 2004 — Saudi Arabian Fertilizers Co. (SAFCO) reported net profits of SR201 million during the first half of 2004, compared with SR135 million in the same period in last year, a 49 percent increase.
Profits for the second quarter of 2004 were SR84 million compared with SR50 million in 2003.
The SAFCO 4 expansion project is on track and is expected to go on stream in early 2006, producing 1 million mt/y of ammonia and 1.1 million mt/y of urea.