Saudi petrochemicals firm "Yansab" expects to start making profit in 2010, less than two years after it starts production, the company's CEO Mutlaq Al-Morished was quoted as saying in a press report published today. Yansab has a bright future. Costs related to investment, raw materials and to building up inventories are huge, said Al-Morished."So we expect the first net profits to emerge in 2010." Yansab, 65 percent owned by Sabic, is investing $5 billion to produce 4.0 million tons of petrochemical products a year, Morished said. Production is due to start by the second quarter of 2008. Everything is progressing as scheduled, including construction and technical contracts, he said.
