Get Your Own Businessabc AI Visibility ID
Boost AI visibility, credibility, and discoverability
Saudi Basic Industries Corporation is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by 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.
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 281st-largest corporation. In 2014, the company had sales revenues of $50.4 billion, profits of $6.7 billion, and assets standing at $90.4 billion. It also has been recognised as the world's second most valuable brand in the chemicals industry by Brand Finance in 2021.
SABIC was founded in 1976 by a 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.
SABIC's founding transformed the small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tonnes; five years later production rose to 13 million tonnes and by 2003 production had risen to 42 million tonnes and by 2012 to over 60 million tonnes.
SABIC employs more than 40,000 people globally and has 60 manufacturing and compounding plants in over 40 countries.SABIC's manufacturing network in Saudi Arabia consists of 18 affiliates. Most of these are based in the Al-Jubail Industrial City on the coast of the Persian Gulf. Two are located in Yanbu Industrial City on the Red Sea and one is in the eastern city of Dammam.
SABIC is also a partner in three regional ventures based in Bahrain. SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE, and polyethylene. SABIC's wholly owned subsidiary, the Saudi Iron and Steel Company, based in Al Jubail, is one of the world's biggest fully integrated producers.
SABIC's mission is to “responsibly provide quality products and services through innovation, learning and operational excellence while sustaining maximum value for our stakeholders”.
SABIC is a multinational corporation that is dedicated to improving people's lives by providing innovative solutions to the world's most pressing challenges. The company's vision is to be a leading global provider of sustainable materials, products, and solutions that make a positive impact on people's lives.
This vision is based on a commitment to sustainability, innovation, and collaboration. SABIC is dedicated to finding new and innovative ways to create products that are not only high-quality and effective, but also environmentally friendly and sustainable. The company also works closely with its customers, suppliers, and other stakeholders to understand their needs and to develop solutions that meet those needs in a responsible and sustainable way.
Chemicals: SABIC produces a wide range of basic chemicals, including ethylene, propylene, and other petrochemical products, as well as specialty chemicals such as performance polymers, resins, and other advanced materials.
Plastics: SABIC is a leading producer of a wide range of high-performance plastics, including thermoplastic resins, engineering plastics, and specialty plastics for various applications.
Fertilizers: SABIC produces fertilizers and other agricultural products to help increase crop yields and improve food security.
Metals: SABIC is a leading supplier of metals, including aluminum and steel, for use in a wide range of industrial and consumer applications.
Energy: SABIC is involved in various energy-related projects, including power generation, renewable energy, and natural gas development.
Manufacturing and services: SABIC provides a range of manufacturing and service solutions to support its customers, including product design and development, tooling, and technical support.
