Agreements Signed
Saudi Bio-acids has recently signed contracts with Novasep in France and Kasel
in Austria to design, procure
and commission our citric
acid plant in Rabegh by the
second quarter of 2014.
Moreover, Keir & Associates
(South Africa) have been
assigned earlier this year to act as the Project Engineer/Client representative. The plant is to produce 21,000 Metric Tonnes per annum which will be expandable to 42,000 Metric Tonnes per annum by the year 2017.
The total cost of this project is expected to be around SR. 300 Million (USD 80 Million).
About the Saudi Economy
Saud Arabia is the globe's largest exporter of crude oil and other petroleum products- the dependency on these particular exports are palpable in all the four corners of the globe, and in all three "worlds" (First, Second & Third). Liquidity has been an important issue since September 2008 and the regulation of the market by the government was done to keep the economy from succumbing to complete illiquidity. In a way, the regulation of the national
economy has made Saudi
Arabia safer from recession
than many other countries.
By keeping credit and other
cash circuits active, they are
one rung safer from domestic collapse.
Recent events