Yansab says production costs to rise 6.5pc in 2016
DUBAI, December 30, 2015
Saudi Arabia's Yanbu National Petrochemical (Yansab) expects fuel and electricity price hikes announced in the 2016 government budget to increase its production costs by 6.5 percent next year, it said in a bourse statement on Wednesday.
The impact will be reflected on the company's profitability starting from the first quarter of 2016, it said, adding that it was working on reducing the impact by increasing plants' efficiency and cutting other costs.
--Reuters
