1210 · 22/04/2015 08:17:20 · Announcement #38382 · View on Saudi Exchange

Basic Chemical Industries Co ( BCI ) announces the latest developments on signing of a memorandum of understanding with CP Kelco.

Further to the announcement published on Tadawul website on 15-09-2013 related to the signing of a memorandum of understanding with CP Kelco Basic Chemical Industries Co announces addendum as That, given the sharp drop in oil prices, the company decided to re-Rating in the feasibility of the project, where the consumption of Zintan flowing mainly in the drilling of oil wells, and will take the case to the Board of Directors in the end of the year 2015 after the feasibility study and make sure tracks the overall level prices in the future and that accompany the case of price deflation, as well as future earnings of the project to determine the possibility of continuity in the memorandum of understanding whether or not rates, will be announced later on any developments in this regard.

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