Ma’aden banks on SAMAPCO
The Tadawul All Share Index lost 0.32 per cent to 8,806.92 points on Sunday, February 3. Saudi Arabian Mining Company (Ma’aden) gained 1.31 per cent to SAR31. Earlier in the day, Ma’aden said further to its announcement on August 4, 2013, related to the operation and production of Sahara Petrochemical Company (down by 1.40 per cent to SAR21.25) and Ma’aden Petrochemical Company, a 50:50 joint venture called SAMAPCO, Ma’aden announced on January 30, 2014 SAMAPCO has completed the performance test of running the plant continuously at full capacity for 72 hours. “The project is expected to start the commercial operation by the second quarter of 2014,” reads the firm’s filing to the Riyadh-based Tadawul bourse.