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SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA

SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA
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SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA

SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA

Saudi Basic Industries Corporation (SABIC) intends to merge its two wholly-owned subsidiaries as part of a strategic transformation plan to increase efficiency and competiveness of its global operations.

SABIC announced on Wednesday its plan to merge Saudi Petrochemical Company (SADAF) and Arabian Petrochemical Company (PETROKEMYA).

All the assets, rights, liabilities and obligations of SADAF will be transferred to PETROKEMYA and it is expected that the merger will be completed during the second half of 2019.

"SABIC’s aim with this merger is to create a more efficient entity which will increase the optimisation of assets and unlock value from the synergies between the two companies’ product streams,” SABIC said.

SADAF will cease to exist as a legal entity as a result of merger.

SADAF operates a complex in Al Jubail, Saudi Arabia, which includes six petrochemical plants with a total production capacity of more than 4m tonnes/year.

PETROKEMYA's products include ethylene, propylene, butene, benzene, butadiene, polystyrene, polyethylene, polyvinyl chloride and acrylonitrile butadiene styrene.

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Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries
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Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Minister of Industry and Mineral Resources Bandar Alkhorayef is leading a high-level delegation from the Kingdom’s industry and mining ecosystem on an official visit to Indonesia from April 15 to 17 to strengthen bilateral economic ties.
The visit aims to attract high-quality investments to the Kingdom and explore mutual investment opportunities in the mining sector and various industrial fields, particularly food, pharmaceuticals, and auto parts, aligning with the objectives of the Kingdom Vision 2030 to diversify the economy and position the Kingdom as a leading global industrial power, SPA reported.
The delegation will participate in high-level strategic meetings with senior government officials from various Indonesian ministries and will also meet with leaders of major Indonesian companies in mining, food, pharmaceutical, and other strategic industrial sectors.

Key meetings in Jakarta will include sessions with the minister of energy and mineral resources and the minister of industry, in addition to discussions with private sector leaders such as the CEO of PT Vale and the chairman of BioPharma.
Indonesia is considered a strategic partner for the Kingdom in Southeast Asia. By the end of 2023, bilateral trade between the two countries reached SAR22.5 billion, with Saudi exports amounting to SAR15 billion and Indonesian imports totaling over SAR7.5 billion.

These figures reflect the strength of economic relations and the mutual interest in expanding areas of cooperation and capitalizing on available opportunities in key sectors. Globally, Indonesia’s exports reached approximately SAR814 billion in 2024, marking a 1.3% annual increase.
Alkhorayef’s visit sets the stage for a new phase in bilateral relations, with both sides focused on building a long-term strategic partnership that supports their local economies and enhances economic integration between the two nations.