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What is Saudi Basic Industries Corporation mean?
Saudi Basic Industries Corporation (Arabic: الشركة السعودية للصناعات الأساسية), known as SABIC (Arabic: سابك), is a Saudi Arabian multinational chemical manufacturing company, and a subsidiary of the state-owned petroleum and natural gas company Saudi Aramco. It is active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul. 70% of SABIC's shares are owned by Saudi Aramco.
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 methyl tert-butyl ether, granular urea, polycarbonate, polyphenylene and polyether imide.
In 2017, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500,. By the end of 2018 SABIC was the world's 281th-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.
referencePosted on 28 Sep 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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