BCI agrees to implement two projects

The Basic Chemical Industries Company announces that its board of directors at its meeting on November 17, 2012 approved the economic feasibility study and agreed to implement the two projects below:

1. Project aimed to add a new specialized chemicals production line, which will be primarily used for treatment of metal surfaces. The board approved the implementation of the project with a cost of SAR 10 million. Implementation will start this month and the project shall be completed in 9 months.
2. Project aimed at producing ferric chloride. The board approved the implementation of the project with a cost of SAR 15 million. Implementation will start this month and the project shall be completed in 14 months.

The two projects will be financed from the company’s internal resources. The return on investment is expected to be 20% for both projects. The company will use its technical team and main suppliers in implementation.