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Saudi petchem firms reported SR33.85bn net income in 2012
- Saudi Arabia: Monday, February 04 - 2013 at 05:24
The Gulf Petrochemicals and Chemicals Association (GPCA) has said that the Saudi petrochemicals sector is continuing to show strong growth, despite challenging market conditions, Arab News has reported. The kingdom is currently producing more than two thirds of the total GCC petrochemical capacity, said the GPCA. The petrochemical sector managed to earn an adequate margin of 10.9%, generating SR33.85bn as net income during fiscal year 2012. Sabic dominated the profitability, contributing SR24.7, or 73% of the consolidated value, the report said.
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