Saudi Basic Industries Net Worth is$84.4 B
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Logo: Image:Sabic logo.png

Type: Public company

Foundation: 1977

Location: Riyadh, Saudi Arabia

Key People: Prince Saud Bin Thunayan Al-Saud, Chairman, Mohammed Al Mady, CEO

Num Employees: 30,988 (2008)

Industry: Chemical industry

Products: Chemicals and intermediates, industrial polymers, fertilizers and metals

Revenue: $40.5 billion USD (2010)

Profits: $5.7 billion USD (2010)

Homepage: [http://www.sabic.com/ www.sabic.com]

SABIC (Saudi Basic Industries Corporation) (Arabic: ??U?????U??(C) ??U?????U???U??(C) U?U??uU????????? ??U?????????U??(C) ?? ??????U?a?? ) is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia as listed in Tadawul, but the Saudi government still owns 70% of its shares. Private sector shareholders are from Saudi Arabia and other countries of the six-nation Gulf Cooperation Council (GCC). SABIC is the largest company in the Middle East.
SABIC is currently the second largest global ethylene glycol producer and is expected to become number one after the introduction of these new projects. SABIC is the third largest polyethylene manufacturer, the fourth largest polyolefins manufacturer and the fourth largest polypropylene manufacturer. SABIC is also the worlda??s largest producer of mono-ethylene glycol, MTBE, granular urea, polyphenylene and polyether imide.
In 2008, SABIC was ranked the no. 4 in the world by Fortune Global 500. By 2009, SABIC also improved its position to become the worlda??s 186th largest corporation One year later, in 2010, SABIC has grown to be the 2nd largest Diversified Chemical Company, 1st when measured only by Market and Asset Value. Measured over all branches, it's now the world 95th largest corporation, on the Forbes Global 2000 ranking with revenues of $40.5 billion, profits of $5.7 billion and assets standing at $84.3 billion
The company is based in Jubail and has interests in 17 affiliated companies which range from full ownership to significant partial participation.
The Saudi Basic Industries Corporation SABIC was founded in 1976 by Royal Decree to convert oil by products into useful chemicals, polymers and fertilizers. SABIC's founding transformed the small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tons, five year

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Saudi Basic Industries Latest News

Shell completes sale of Sadaf stake to Sabic

to Saudi Basic Industries Corp (Sabic) for $820 million. Sabic already owns the other 50 per cent stake. This sale was announced in January 2017, said a Shell statement. The completion follows anti-trust filings in the relevant countries and regulatory ...
Posted: August 17, 2017, 2:29 am

Gulf may have firm tone, SABIC could rise on buyout of Shell JV

DUBAI, Aug 17 (Reuters) - Stock markets in the Gulf may have a firm tone on Thursday on the back of strong global equity prices, while Saudi Basic Industries could rise after it purchased Shell Arabia's share in their joint venture. MSCI's broadest index ...
Posted: August 16, 2017, 10:38 pm

Saudi Basic Industries SJSC : SABIC acquires 50% stake in Sadaf

Riyadh – Mubasher: The Saudi Basic Industries Corp (SABIC) on Wednesday announced acquiring a 50% stake in the Saudi Petrochemical Company (Sadaf) at a value of $820 million. SABIC made the acquisition from Shell Chemicals Arabia LLC, according to a ...
Posted: August 16, 2017, 1:05 pm

Saudi’s SABIC acquires Shell’s stake in its Saudi plant – Al-Arabiya

Saudi Basic Industries Corp (SABIC) has completed the purchase of the 50 percent that it did not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell, for $820 million, SABIC said on Wednesday. The financial impact of ...
Posted: August 16, 2017, 3:22 pm

Saudi’s SABIC acquires Shell’s stake in its Saudi plant

Saudi Basic Industries Corp (SABIC) has completed the purchase of the 50 per cent that it did not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell, for $820m SABIC said on Wednesday. The financial impact of the ...
Posted: August 16, 2017, 9:45 pm
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