SABIC

SABIC is the abbreviation for Saudi Basic Industries Corporation, a Saudi Arabian manufacturer of chemicals. It works in metals, petrochemicals, chemicals, industrial polymers, and fertilizers. It is considered the second-largest public company in the Middle East and Saudi Arabia listed in Tadawul.

SABIC was formed in 1976 by royal decree in order to transform petroleum by-products into valuable chemicals, polymers, and fertilizers. Small fishing communities like Jubail on the Persian Gulf and Yanbu on the Red Sea were turned into the contemporary industrial metropolis by the advent of SABIC. SABIC has 60 production and dispensing facilities spread over more than 40 nations, and it employs more than 40,000 people worldwide.

In October 2015, SABIC completed a corporate restructure that resulted in the incorporation of industrial chemicals manufactured by the Innovative Plastics SBU into the Chemical and Polymer SBUs. The Creative Plastics SBU was also replaced by the Dedicated SBU on January 1, 2016, which would handle the remaining non-commodity Creative Plastics items.

SABIC was rated fourth among chemical firms globally by Fortune Global 500 in 2017. SABIC ranked 281st in terms of global corporate size as of the end of 2018 with revenues of USD 50.4 billion, profits of USD 6.7 billion, and assets of USD 90.4 billion. Additionally, Brand Finance has acknowledged it as the second-most valuable brand in the chemical sector globally in 2021.

Founded: 1976
Headquarters: Riyadh, Saudi Arabia

Website: https://www.sabic.com/en