Bloomberg News

Saudi Exporter Will Reassess Indian Shipments as Duty Removed

January 03, 2012

Jan. 3 (Bloomberg) -- Advanced Petrochemicals Co. of Saudi Arabia will look again at the volume of polypropylene it sells to India, which has removed anti-dumping duty on Saudi exports of the chemical, said Abdullah al-Garawi, the company president.

While Advanced Petrochemicals shipped 1.5 percent to 2 percent of its polypropylene to India before the duty was imposed, its sales there are small at present, al-Garawi said in a telephone interview late yesterday.

The lifting of the 6.5 percent duty, imposed in November 2010, was announced in a Dec. 30 statement posted on the website of India’s Central Board of Excise and Customs. The duty covered imports from companies including Saudi Basic Industries Corp., the world’s biggest petrochemicals maker, Advanced Petrochemicals and National Industrialization Co.

Links to Company News: APPC AB <Equity> CN <GO> RIBL AB <Equity> CN <GO> SAMBA AB <Equity> CN <GO>

--Editors: Alan Purkiss, Chris Peterson

To contact the reporter on this story: Wael Mahdi in Khobar wmahdi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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