National Shipping Firm Sets Up New Carrier

RIYADH, 14 October 2005 — The National Shipping Company of Saudi Arabia has announced that the National Chemical Company, NCC, which belongs to the company, will set up a new petrochemical company named Najd. The total cost of the carrier is SR35.5 million. This carrier is one of ten petrochemical carriers that are built for The National Shipping Company of Saudi Arabia. Najd carrier will carry out SABIC products based on a ten years contract singed between SABIC and The National Shipping Company of Saudi Arabia.