Sahara Petrochemical soars, launches acrylic acid production
The Riyadh-based Tadawul All-Share Index ended 0.75 per cent higher at 9,584.31 points on Tuesday, July 1. The shares of Sahara Petrochemical Company jumped 3.17 per cent, reaching SAR21.50. Earlier in the day, Sahara said it started the commercial operation of its Acrylic Acid Plants complex. “It is worth mentioning that it is not possible to measure the financial impact of these plants on the company financials, which would be during the second half of this year, 2014. It is worth mentioning that Sahara Petrochemicals Co. owns 43.16% of Saudi Acrylic Acid (SAAC),” said Sahara in a filing to the Saudi Stock Exchange.