Details of the new complex were unveiled in December 2003. It will have an annual production capacity of 3.8 million mt/y of Ethylene, Ethylene Glycol, Polyethylene, and Polypropylene products.
SABIC Vice Chairman and CEO, Mohamed H. Al-Mady, said the complex will be a one of the world's largest petrochemical sites and is expected to begin production before the end of 2007, boosting SABIC's contribution to the national economy and enhancing its competitiveness worldwide.
SABIC is currently world number two in Ethylene Glycol production and will become number one following construction. The company is also third in Polyethylene production, sixth in the Polypropylene and fourth in Polyolefins overall.
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SABIC awards contract for new Yanbu petrochemical complex to Foster Wheeler Energy Ltd.
- Saudi Arabia: Wednesday, June 16 - 2004 at 11:07
- PRESS RELEASE
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Saudi Basic Industries Corporation (SABIC) has awarded a program management service contract for the engineering, procurement and construction of its new petrochemical complex in Yanbu Industrial City to Foster Wheeler Energy Ltd.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, June 16 - 2004 at 11:07 UAE local time (GMT+4)
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Mohammad Al-Motawa
General Manager, Corporate Communications
The Middle East's largest petrochemicals company, SABIC, is based in Riyadh, Saudi Arabia.
It was founded in 1976, when the Saudi Arabian Government decided to use hydrocarbon gases released in the production of oil as raw material for the 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 countries of the Gulf Cooperation Council (GCC).
SABIC's business activities have been restructured and a new management model became effective on 1 September 2002. There are now six Strategic Business Units (SBUs): Basic Chemicals; Intermediates; Polyolefins; PVC & Polyester; Fertilizers and Metals. Supporting all these functions is a corporate core consisting Human Resources; Corporate Finance; Corporate Control and Research & Technology. A Shared Services Organization became operational in 2003.
SABIC has two large industrial sites in Saudi Arabia - Al-Jubail and Yanbu - with 18 world-scale production complexes. Some of these production complexes are operated with multi-national partners such as Exxon Mobil, Shell, Fortum, Ecofuel/ENI and Mitsubishi Chemicals. In addition, SABIC has interests in three production complexes in Bahrain. Over the last 16 years, SABIC's overall production capacity has increased considerably. In 2003 it amounted to 42.3 million metric tons.
SABIC EuroPetrochemicals owns two petrochemical production sites in Geleen (Netherlands) and Gelsenkirchen (Germany) for the production, marketing and sales of polypropylenes, polyethylenes and hydrocarbons. It annually sells about 2.6 million tonnes of polymers, mainly in Europe. About 2,300 people are employed at SABIC EuroPetrochemicals.
SABIC employs more than 16,000 people worldwide, most of whom are based in Saudi Arabia. In 2003, SABIC posted sales of approximately SR47.1bn (US$12.56bn) and a net profit of approximately SR6.716bn (US$1.79bn).
General Manager, Corporate Communications
The Middle East's largest petrochemicals company, SABIC, is based in Riyadh, Saudi Arabia.
It was founded in 1976, when the Saudi Arabian Government decided to use hydrocarbon gases released in the production of oil as raw material for the 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 countries of the Gulf Cooperation Council (GCC).
SABIC's business activities have been restructured and a new management model became effective on 1 September 2002. There are now six Strategic Business Units (SBUs): Basic Chemicals; Intermediates; Polyolefins; PVC & Polyester; Fertilizers and Metals. Supporting all these functions is a corporate core consisting Human Resources; Corporate Finance; Corporate Control and Research & Technology. A Shared Services Organization became operational in 2003.
SABIC has two large industrial sites in Saudi Arabia - Al-Jubail and Yanbu - with 18 world-scale production complexes. Some of these production complexes are operated with multi-national partners such as Exxon Mobil, Shell, Fortum, Ecofuel/ENI and Mitsubishi Chemicals. In addition, SABIC has interests in three production complexes in Bahrain. Over the last 16 years, SABIC's overall production capacity has increased considerably. In 2003 it amounted to 42.3 million metric tons.
SABIC EuroPetrochemicals owns two petrochemical production sites in Geleen (Netherlands) and Gelsenkirchen (Germany) for the production, marketing and sales of polypropylenes, polyethylenes and hydrocarbons. It annually sells about 2.6 million tonnes of polymers, mainly in Europe. About 2,300 people are employed at SABIC EuroPetrochemicals.
SABIC employs more than 16,000 people worldwide, most of whom are based in Saudi Arabia. In 2003, SABIC posted sales of approximately SR47.1bn (US$12.56bn) and a net profit of approximately SR6.716bn (US$1.79bn).
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