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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 Tourism Ministry Intensifies Inspection Efforts in Summer Tourist Destinations

Saudi Tourism Ministry Intensifies Inspection Efforts in Summer Tourist Destinations
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Saudi Tourism Ministry Intensifies Inspection Efforts in Summer Tourist Destinations

Saudi Tourism Ministry Intensifies Inspection Efforts in Summer Tourist Destinations

The Saudi Ministry of Tourism has intensified its inspection efforts across several summer tourist destinations in the Kingdom, reported the Saudi Press Agency on Saturday.

These inspections aim to ensure that hospitality facilities hold the necessary licenses from the ministry and comply with approved quality standards, coinciding with the launch of the Saudi Summer season.

The inspection tours covered multiple regions and cities, including Aseer, Al-Baha, Taif, and Jeddah, over the past two months.

The ministry's inspection teams conducted more than 2,800 visits to summer destinations. The visits assessed the quality of services provided, the availability of safety requirements, and cleanliness levels, while also confirming that facilities had obtained the necessary licenses to operate.

The ministry emphasized to all hospitality establishments, including private facilities, the importance of delivering high-quality services and adhering to its approved regulations. It stressed that violators will face penalties, which may include fines of up to SAR1 million, closure of the facility, or both.