Saudi Kayan Petrochemical Company is expected to turn to profit by support of Sabic’s innovative plastics company, a top official said.
Sabic innovative plastics company is a major world producer of polycarbonates, also produced by Kayan.
Kayan, 35 percent owned by Sabic, will focus on innovative products which will make profit making possible, Sabic CEO Hamad Al-Madi told Al-Arabiya TV.
The cost of building Kayan complex was very high, as it was founded in 2005 when construction costs were at record high level, Al-Madi said.
The company incurred a SAR 133.1 million losses in the second quarter of 2014.
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