Savola sugar refinery hit by fire
Jeddah, June 22, 2013
Saudi food company Savola Group said on Saturday a fire at its United Sugar Company in Jeddah on Thursday would not affect its projected 2013 financial results or reduce Saudi sugar supplies much during Ramadan.
The fire happened in its main warehouse, which was insured, and did not affect its main refining plant, Savola said in a bourse statement.
The statement quoted the company's chief executive Abdulraouf Mannaa as saying the incident "will not have any major effect on the sugar availability in Saudi market during the month of Ramadan or increase in sugar prices".
During Ramadan, which starts this year on July 9, Saudi consumption of sugar rises because it is used to make traditional confectionaries eaten at night.-Reuters