Yanbu National Petrochemical Company (Yansab) has announced realizing none operational net loss of SAR 13.1 million for the 6 months ending June 30, 2008 compared to none operational net loss of SAR 14.1 million for the same period 2007 with reduced losses by 7.6% and the second quarter 2008 none operational losses of 6.2 compared to 9.3 million none operational losses in the 2nd QTR 2007. Needless to say that Yansab still in the pre operating stage and realizing none operational loss is the norm for such a stage and all these gains or losses during this stage are classified as none operational. The loss per share for the 6 months ending June 30, 2008 were ( 0.23) Riyal compared to loss of (0.25) for same period 2007..



On this occasion, Eng. Mutlaq AL-Morished, Yansab Chairman of the Board and SABIC CFO, stated that project work is progressing well, where the engineering and procurement activities for most units are completed and focus now is on the final phase of construction at site where by end of 2nd QTR 2008, construction progress alone is 83.2% while overall progress in EPC is 92.3%. During the quarter, Yansab continued to receive notices of completion for many of the units and parts of the units and continued with pre-commissioning and testing of the received units. With Almighty Allah, Yansab commenced the trail production of steam on June 16, 2008 after connecting the gas supply from Saudi Aramco and such a milestone shall accelerate the pre commissioning and testing activities for the complex.

Mr. Morished further added that it is expected that main work will be completed at the Project and core plants will be ready for start- up by Year end 2008.