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    <title>Borouge 3 site preparation contract awarded</title>
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    <pubDate>Sat, 07 Nov 2009 11:56:49 +0400</pubDate>
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        Borouge has awarded the contract for the site preparation of Borouge 3 expansion to Al Asab General Transportations and Contracting Establishment of Abu Dhabi. The preparation is estimated to take one year for the expansion of the company's petrochemical complex in Ruwais. The Borouge 3 petrochemical complex includes an ethane cracker, second generation Borstar polypropylene and polyethylene units, a low density polyethylene unit and a Butene unit.
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    <title>Lecico Q3 profits up 13%</title>
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    <pubDate>Thu, 05 Nov 2009 11:42:53 +0400</pubDate>
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        Egyptian ceramics manufacturer, Lecico has said its third-quarter net profit climbed 13% to EGP29.5m ($5.4m), Reuters has reported. Currency gains had helped offset lower sales as tile output was hit by maintenance shutdowns, the firm said. Net sales fell to EGP273.2m this quarter, compared with EGP295.6m in the same period last year.
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    <title>Motabaqah opens petrochem laboratory</title>
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    <pubDate>Thu, 05 Nov 2009 11:37:00 +0400</pubDate>
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        The Saudi Specialized Laboratory Co., (Motabaqah), has announced the opening of its new Petrochemical Testing Laboratory located in the First Industrial City district of Dammam. The new laboratory will enable testing of a wide range of petrochemical products and significantly enhance the firm's capacity to provide high quality testing of products traditionally imported into the kingdom, Motabaqah said in a statement.
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    <title>Kuwait opens $2bn aromatics plant</title>
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    <pubDate>Thu, 05 Nov 2009 11:35:33 +0400</pubDate>
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        Kuwait's Petrochemical Industries Company (PIC) has started operations at a $2bn aromatics plant this week that is expected to reach full capacity by early December, Reuters has reported. The Kuwait Aromatics plant, which has a nameplate capacity of 830,000 tons per year (tpy) of paraxylene and nearly 400,000 tpy of benzene, can produce up to 1 million tpy of light naphtha, and is currently operating at 60%. PIC and Kuwait National Petroleum Company (KNPC) each have a 40% stake in the plant, with Qurain Petrochemical Industries holding a 20% share.
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    <title>Almutlak plans 2010 IPO</title>
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    <pubDate>Thu, 05 Nov 2009 11:24:11 +0400</pubDate>
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        Saudi-based automotive specialist, Almutlak Trade and Industries plans to sell 30% of its shares to the public early next year as part of plans to expand its business, Reuters has reported. The money raised from the IPO will be taken by the existing shareholders while future expansion of the business will be funded from a capital increase, planned one year after listing, the IPO's adviser said. 'The plan is to have it in the first quarter of 2010 but the exact date is subject to the Capital Market Authority's approval,' according to the Financial Transaction House Co.
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