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FINANCIAL NEWS
Saudi Kayan reports USD63.5m loss in Q2
16 Jul 2013
(MENAFN) Saudi Kayan Petrochemical Co., a unit of Saudi Arabia Basic Industries (SABIC) reported a 27 percent narrower quarterly loss on higher margins and lower costs, Reuters reported.
The company said it incurred USD63.5 million net loss during the second quarter, that is lower than USD87.44 million loss a year ago.
Earlier this month, Kayan has awarded a USD290 million contract to South Korean Daelim Industrial Co to build a butanol plant.
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