Today Mohamed Al-Mady, SABIC Vice Chairman & CEO conducted a tour of inspection at SABIC affiliates Saudi Yanbu Petrochemical Company (YANPET), the Arabian Industrial Fibers Company (IBN RUSHD) and National Gas Industrial Gases (GAS). He also visited SABIC’s newest affiliate, the Yanbu National Petrochemical Company (YANSAB) and its construction works, which are well underway and incorporate the latest world-class technologies.
During the tour Al-Mady was accompanied by Yousef Al-Zamel, Vice President Basic Chemicals, Dr. Abdulrahman Al-Ubaid, Vice President Polymers and Khaled Al-Mana, Vice President Intermediates. Al-Mady inspected the works progress at the YANSAB construction site which is expected to be completed before the end of this year. The complex is scheduled to go on-stream and begin commercial production next year to further strengthen SABIC’s leading position among the world’s largest petrochemical companies and boost its contributions to national Saudi development plans.
Al-Mady explained that the YANSAB complex will add a total annual capacity exceeding four million tons of petrochemical products, including 1.3 million tons of ethylene, 400K tons of propylene, 900K tons of polyethylene, 400K tons of polypropylene, 770K tons of Ethylene Glycol, in addition to 250K tons of Benzene, Xylene and Toluene mixtures, and 100K tons of (butene-1), (butene-2).
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About SABIC
Saudi Basic Industries Corporation (SABIC) is the largest public company in the Middle East, ranked by market capitalization (more than US$ 70 billion), and one of the world’s 10 largest petrochemicals manufacturers. The company is among the world’s market leaders in the production of polyethylene, polypropylene, glycols, methanol, MTBE and fertilizers as well as the fourth largest polymer producer.
SABIC’s profit rose to a record SR 19.2 billion (US$ 5.1 billion) in 2005, a 35% increase on 2004 and the company’s highest profit since inception. Sales revenues for 2005 totaled SR 78.3 billion (US$ 20.8 billion), making SABIC the largest and most profitable public company in the Middle East.
SABIC operates six interlinked strategic business units: Basic Chemicals, Intermediates, Specialized Products, Polymers, Fertilizers and Metals. The company has significant research resources and has dedicated Research and Technology centers in Riyadh, Geleen in the Netherlands, Houston USA and Vadodara in India. SABIC has more than 17,000 employees worldwide.
SABIC has two large production sites in Saudi Arabia – in Al-Jubail and in Yanbu – comprising 18 world-scale complexes. Some of these complexes are operated with multi-national joint venture partners such as Exxon Mobil, Shell and Mitsubishi Chemicals. SABIC’s overall production capacity has increased from 35.4 million metric tons in 2001 to 46.7 million metric tons of production in 2005.
Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70% of SABIC shares with the remaining 30% held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.
SABIC Europe, headquartered in Sittard, the Netherlands, employs nearly 2,450 people and operates two petrochemical production sites in Geleen, the Netherlands and Gelsenkirchen in Germany for the production of polypropylenes, polyethylenes and liquid hydrocarbons. These are marketed by its European network of sales offices and logistical hubs. In 2005, SABIC Europe produced 2.5 million metric tons of polyolefins and 3.1 million metric tons of basic chemicals, mainly for the European market.
