HRH Crown Prince Abdullah Bin Abdulaziz Al-Saud visits SABIC stand
in Moscow
Posted: 4 September 2003
HRH Crown Prince Abdullah Bin Abdulaziz Al-Saud inaugurated ‘The
Saudi Exhibition for National Industry’ in Moscow.
Following the official opening of the exhibition, the Crown Prince
and a senior Saudi delegation visited the SABIC stand and were received
by Mohammad Al-Motawa, General Manager, Corporate Communications.
Following the Crown Prince’s visit, Abdul Rahman Al-Jeraisy,
Chairman of the Council of the Saudi Chambers of Commerce and Industry
said: “The visitors were very impressed by the professional
standards of the exhibition and the quality of products displayed
by the Saudi companies present.”
The exhibition runs from 3rd-7th September. SABIC is one of 47
leading Saudi companies participating in this important trading
occasion for the Kingdom.
About SABIC
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 will become operational in 2003.
SABIC has two large industrial sites in Saudi Arabia – Al-Jubail
and Yanbu – with sixteen 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 2002 it amounted to 40.6 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.
They annually sell about 2.6 million tonnes of polymers, mainly
in Europe. About 2,300 people are employed at SABIC EuroPetrochemicals.
SABIC employs over 16,000 people worldwide, most of whom are based
in Saudi Arabia. In 2002 SABIC posted sales of approximately SR34bn
(US$9.06bn) and a net profit of approximately SR2.84bn (US$758.4m).
Posted by Richard Price,
Editor Pipeline Magazine
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