YANSAB Suffers SR45 Million Loss

YANBU, 28 March 2008 — The pre-operating loss of the Yanbu National Petrochemical Company (YANSAB) is SR45 million, according to Mutlaq Al-Moraishid, chairman of the board of directors of YANSAB. “The loss, which is not capable of influencing the future performance of the company, is negligible compared to any company in its initial stage,” Moraishid said after the first general body meeting of the company held at the King Fahd Cultural Center in Yanbu this week. The company would start operations this year, Al-Moraishid said.