Saudi Basic Industries Corporation
 |
|
| Public | |
| Industry | Chemicals |
| Founded | 1976 |
| Headquarters | Riyadh, Saudi Arabia |
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Key people
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Abdulaziz Saleh Aljarbou, Chairman Yousef Abdullah Al-Benyan, CEO |
| Products | Chemicals and intermediates, industrial polymers, fertilizers and metals |
| Revenue | $35.5 billion USD (2016) |
|
Number of employees
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40,000 (2014) |
| Website | www.sabic.com |
SABIC (Saudi Arabian Basic Industries Cooperation) is a Saudi 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. SABIC is also the largest listed company in the Middle East. Private shareholders are from Saudi Arabia and other countries of the six-nation Gulf Cooperation Council (GCC).
SABIC was the world's fourth largest chemical producer in 2013. It is currently the second largest global ethylene glycol producer and is expected to top the list after the introduction of new projects. SABIC is the third largest polyethylene manufacturer, the fourth largest polyolefins manufacturer, and the fourth largest polypropylene manufacturer. SABIC is also the world’s largest producer of MTBE, granular urea, polycarbonate, polyphenylene and polyether imide.
In 2014, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500, and the world’s 205th largest corporation. In 2010, SABIC grew to be the second largest diversified chemical company, or first when measured only by asset value. Measured over all its branches, it became (as of 2014) the world's 98th largest corporation on the Forbes Global 2000 ranking (which lists only publicly traded companies), with sales revenues of $50.4 billion, profits of $6.7 billion and assets standing at $90.4 billion.
The company is based in Riyadh and has interests in 17 affiliated companies, which range from full ownership to significant partial participation.
SABIC was founded in 1976 by royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers. The first chairman of the company was Ghazi Abdul Rahman Al Gosaibi, the Minister of Industry and Electricity, and the first CEO was Abdul Aziz Bin Abdullah Al Zamil.
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