Ma’aden down 0.60 per cent at SAR34.40

June 30, 2014 8:53 pm

Following a roller-coaster trading session, the stock market in Saudi Arabia bucked the sluggish trend in the GCC on Monday, June. The equity market index TASI closed flat at 9,513.02 points. Saudi Arabian Mining Company, also known as Ma’aden (the Arabic word means metals) closed 0.60 per cent lower at SAR34.40. Earlier in the day, KSA’s leading metals and minerals company said in a filing to the Riyadh-based bourse that July 1st would mark the beginning of the commercial operation of Sahara and Maaden Petrochemical Company (SAMAPCO). “The plant is designed to produce 250,000 tons per year of concentrated caustic soda and 300,000 tons of ethylene dichloride (EDC). The financial effect will be shown in the company 2014 third quarter financial results. SAMAPCO is a limited liability company, jointly owned 50:50 by Maaden and Sahara.”


Gérard Al-Fil