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YANSABYanbu National Petrochemical Company (Yanbu Industrial City, Saudi Arabia)
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Petrochemical plants with a strong operating track record can offer access to attractive cash flows," said Credit Suisse and listed Yansab and Advanced Petrochemical as "attractive" stocks.
Annual ethylene glycol capacity at Yansab is 770,000 tonnes.
NCB Capital remains overweight on Sabic, SIIG, Tansee, Yansab and Advanced, and Neutral on Safco, Kayan, Sipchem, Sahara and Petrochem.
Yansab Saudi Arabia's Yanbu National Petrochemicals Co, better known as Yansab, posted yesterday a 7.
Tasnee, Industries Qatar and Yansab are some of them.
Yansab has stated that nearly its entire range of products recorded drop in prices in 2012, although elevated sales volumes facilitated offset the overall fall in income.
The objectives of Yansab are to engage in manufacturing of petrochemical products (Ethylene, Ethylene Glycol, High Density Polyethylene, Low Linear Density Polyethylene, Polypropylene, Butene 1, Butene 2, MTBE and BTX) in accordance with its Articles of Association, and other applicable regulations in the Kingdom.
Yansab reported an impressive 92 per cent year-on-year growth and 34 per cent quarter-on-quarter increase in second quarter of 2011 net profit to SAR963 million led by higher average realisation for various petrochemicals as well as an uptake in volumes.
In 2010, SABIC started operations at Yansab (Saudi Arabia), Sharq's 3rd expansion project (Saudi Arabia) and its petrochemical complex in Tianjin (China) through a JV with Sinopec.
SABIC raised its output during the second quarter with the start of commercial operations at its Yansab, Sharq affiliates and at a China-based joint-venture.
The completion of projects at Sharq and Yansab in the Kingdom and the joint venture in China would increase the company's profit this year," he said.
Losses reported at this stage are normal given that YANSAB complex is still under construction.