Sadara, a Saudi-American chemical joint venture, has turned a profit, wiping off $853 million in loss

RIYADH: Last year, Sadara Chemical Co., a joint venture between Saudi Aramco and Dow Chemical Co. in the United States, earned a profit, reversing losses of SR3.2 billion ($853 million) the year before.

The huge JV, which specialises in creating a wide spectrum of speciality chemicals, posted a net profit of SR3.1 billion for 2021, according to a bourse filing.

The profit gain of 200 per cent was accompanied by a revenue in....