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SABIC was founded in 1976 by royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers. [9] The first chairman of the company was Ghazi Abdul Rahman Al Gosaibi, the Minister of Industry and Electricity, and the first CEO was Abdulaziz bin Abdullah Al Zamil.
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Safco is the first petrochemical company in Saudi Arabia.It was established in 1965. SAFCO is one of the largest producers of chemicals in the world [4] with an annual production capacity of over 4.9 million tons of fertilizers.
That company, Saudi Basic Industries Corporation (SABIC), was formally established by royal decree in 1976. [7] Together with a group of young university-trained Saudis whom he recruited, Al-Zamil reviewed a large number of joint-venture proposals and identified those that were most promising.
Yansab is a SABIC, affiliate company in Saudi Arabia, and is the largest SABIC petrochemical complex. It will has an annual capacity exceeding 4 million metric tons (MT) of petrochemical products including: 1.3 million MT (metric-tons) of ethylene; 400,000 MT of propylene; 900,000 MT of polyethylene; 400,000 MT of polypropylene; 700,000 MT of ethylene glycol; 250,000 MT of benzene, xylene and ...
He is a chemical engineer, who joined SABIC at its inception in 1976. He earned his BSc at the University of Colorado at Boulder in 1973, and his MSc in chemical engineering from the University of Wyoming in 1975. Before his appointment as Vice Chairman and CEO in 1998, he served as SABIC's General Director of Projects. [1]
On 17 June 2020, Saudi Aramco acquired a 70% share in SABIC, a chemicals manufacturing company. [70] [71] In June 2020, Saudi Aramco laid off nearly 500 of its more than 70,000 employees, as global energy firms reduced their workforce due to the COVID-19 pandemic. Most of the workers who lost their job at Aramco were foreigners. [72]
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