Mar 25 | 2019
Nine Companies Sign Up for Saudi Projects
Saudi diversified manufacturing company SABIC has signed up nine construction companies to begin a “transformation” of its procurement processes in Saudi Arabia, as the firm plans wide-ranging investment in the country’s chemicals sector.
The deals are expected to drive breakbulk activity across the country as SABIC starts construction on several large-scale chemical facilities projects under the Kingdom’s Vision 2030 program.
"SABIC is now taking its relationship with them to the next level and commencing new long-term alliances to achieve significant values for the companies, its customers and the kingdom," said Awadh Al Maker, executive vice president at SABIC.
Local Suppliers
The eight companies signed up by SABIC include one Chinese contractor, Third Chemical Engineering, and eight local Saudi firms: H K Al Sadiq Sons Contracting Co., Sendan International Co., Global Sources for General Contracting, Al Manar Arabian Corp., Jal International Co., Central Gulf Engineering and Technical Sev (Zain Thermal), Abdullah Faleh Al Dossary and Specialized Industrial Services Co.
“SABIC has a long history of outstanding relationships over the past years with these suppliers and has always considered them as partners in the success attained in the chemical industry,” Al Maker added.
As the world's fourth-largest chemical producer, SABIC is active in the manufacture of petrochemicals, chemicals, industrial polymers, fertilizers, and metals with major facilities across Saudi Arabia.
Revenue Growth Supporting Re-investment
The group recently reported growth in annual revenues as both production and sales volumes rose in in line with the higher oil price environment.
“Our continuous commitment on cost control and business excellence delivered by our business transformation program has ensured that we continue to remain ahead of new changes in the global petrochemical market,” Yousef Al-Benyan, CEO of SABIC, said.
Downstream Industrial Park
A key part of this transformation will be the development of a downstream industrial and logistics park in Yanbu, a joint venture between SABIC and Saudi Aramco. A locus for future breakbulk activity in the country, the park will be co-located with a planned crude-oil-to-chemicals complex
“We will utilize our expertise and services for developing the Saudi industrial sector, and promote the Kingdom's position and leadership in the global chemical industry” said Abdulaziz Aljarbou, SABIC Chairman.
Photo: Signing cermony. Credit: SABIC
The deals are expected to drive breakbulk activity across the country as SABIC starts construction on several large-scale chemical facilities projects under the Kingdom’s Vision 2030 program.
"SABIC is now taking its relationship with them to the next level and commencing new long-term alliances to achieve significant values for the companies, its customers and the kingdom," said Awadh Al Maker, executive vice president at SABIC.
Local Suppliers
The eight companies signed up by SABIC include one Chinese contractor, Third Chemical Engineering, and eight local Saudi firms: H K Al Sadiq Sons Contracting Co., Sendan International Co., Global Sources for General Contracting, Al Manar Arabian Corp., Jal International Co., Central Gulf Engineering and Technical Sev (Zain Thermal), Abdullah Faleh Al Dossary and Specialized Industrial Services Co.
“SABIC has a long history of outstanding relationships over the past years with these suppliers and has always considered them as partners in the success attained in the chemical industry,” Al Maker added.
As the world's fourth-largest chemical producer, SABIC is active in the manufacture of petrochemicals, chemicals, industrial polymers, fertilizers, and metals with major facilities across Saudi Arabia.
Revenue Growth Supporting Re-investment
The group recently reported growth in annual revenues as both production and sales volumes rose in in line with the higher oil price environment.
“Our continuous commitment on cost control and business excellence delivered by our business transformation program has ensured that we continue to remain ahead of new changes in the global petrochemical market,” Yousef Al-Benyan, CEO of SABIC, said.
Downstream Industrial Park
A key part of this transformation will be the development of a downstream industrial and logistics park in Yanbu, a joint venture between SABIC and Saudi Aramco. A locus for future breakbulk activity in the country, the park will be co-located with a planned crude-oil-to-chemicals complex
“We will utilize our expertise and services for developing the Saudi industrial sector, and promote the Kingdom's position and leadership in the global chemical industry” said Abdulaziz Aljarbou, SABIC Chairman.
Photo: Signing cermony. Credit: SABIC
