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Saudi bourse dips slightly

March 19, 2014 6:29 pm

The Tadawul All Share Index ended 0.60 per cent lower at 9,318.63 points on Wednesday, March 19. SABIC advanced 0.22 per cent to SAR115.50. Saudi Industrial Investment Group (SIIG) slipped 0.60 per cent to SAR32.90. Earlier in the day, SIIG announced that Petrochemical Conversion Company (PCC) has entered the commissioning and start-up phase of the second plant at the PCC complex, which produces high-density polyethylene pipes. “This commissioning phase will extend until all plants at PCC have been completed, which is expected to start sequentially this year.” SIIG will reveal further updates in the coming weeks; in addition, it is difficult to measure the financial impact until the completion of all PCC projects.

Gérard Al-Fil