He was received by Prince Saud bin Abdullah bin Thunayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu and Chairman of SABIC, Mohamed Al-Mady, SABIC Vice Chairman and CEO and senior officials of the company.
The Minister was accompanied by a high-level delegation from the UK consisting of 20 high ranking officials representing government, industrial and economic sectors.
The two sides discussed ways to boost economic relations between Saudi Arabia and the United Kingdom and develop prospects of cooperation between SABIC and the business sectors in UK.
The guests watched a film of SABIC global operations and listened to a presentation on the Royal Commission for Jubail and Yanbu.
SABIC UK Ltd. facilities include a cracker, aromatics and a low-density polyethylene (LDPE) complex.
The Kingdom of Saudi Arabia is the largest trading partner for the UK in the Middle East and the UK is fifth amongst major exporters to the Kingdom.
The total number of British-Saudi projects are estimated at 200 with an investment value of nearly SR56bn.
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Sabic Chairman receives British Minister of State for Trade and Investment
- Saudi Arabia: Wednesday, March 12 - 2008 at 11:36
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Lord Jones of Birmingham, British Minister of State for Trade and Investment visited SABIC headquarters on March 11.
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Posted by Eman HassanWednesday, March 12 - 2008 at 11:36 UAE local time (GMT+4)
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About SABIC
Saudi Basic Industries Corporation is one of the world's 10 largest petrochemicals manufacturers. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers, as well as the fourth-largest polyolefins producer.
SABIC's profit rose to a record SR27 bn ($7.2bn) in 2007, a 33% increase over 2006. Sales revenues for 2006 totalled SR86.3bn ($23bn), the highest revenues achieved by the company since its inception. Total assets stood at SR169bn ($4bn) at the end of 2006.
SABIC operates six interlinked strategic business units: Basic Chemicals, Intermediates, Specialty Products, Polymers, Fertilizers and Metals. In 2007 SABIC Innovative Plastics was launched as a global supplier of specialty plastics. SABIC has significant research resources and has dedicated Research and Technology and application centers in the Middle East, the Americas, Europe and Asia-Pacific with customers in more than 100 countries. SABIC has more than 30,000 employees worldwide.
In Saudi Arabia, the company has 20 world-scale complexes and 19 of them are located at the two largest sites - in Al-Jubail and in Yanbu. Some of these complexes are operated with multi-national joint venture partners such as ExxonMobil, Shell and Mitsubishi Chemicals. SABIC produces in 22 locations in the Americas and 15 locations in Asia-Pacific. In Europe, SABIC has 15 production sites. There is an additional site in Turkey. SABIC's overall production has increased from 27 million metric tons in 2001 to 49.1 million metric tons in 2006.
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.
Saudi Basic Industries Corporation is one of the world's 10 largest petrochemicals manufacturers. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers, as well as the fourth-largest polyolefins producer.
SABIC's profit rose to a record SR27 bn ($7.2bn) in 2007, a 33% increase over 2006. Sales revenues for 2006 totalled SR86.3bn ($23bn), the highest revenues achieved by the company since its inception. Total assets stood at SR169bn ($4bn) at the end of 2006.
SABIC operates six interlinked strategic business units: Basic Chemicals, Intermediates, Specialty Products, Polymers, Fertilizers and Metals. In 2007 SABIC Innovative Plastics was launched as a global supplier of specialty plastics. SABIC has significant research resources and has dedicated Research and Technology and application centers in the Middle East, the Americas, Europe and Asia-Pacific with customers in more than 100 countries. SABIC has more than 30,000 employees worldwide.
In Saudi Arabia, the company has 20 world-scale complexes and 19 of them are located at the two largest sites - in Al-Jubail and in Yanbu. Some of these complexes are operated with multi-national joint venture partners such as ExxonMobil, Shell and Mitsubishi Chemicals. SABIC produces in 22 locations in the Americas and 15 locations in Asia-Pacific. In Europe, SABIC has 15 production sites. There is an additional site in Turkey. SABIC's overall production has increased from 27 million metric tons in 2001 to 49.1 million metric tons in 2006.
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.
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