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Saudi company SABIC keen on coop with Kazakhstan

10 March 2020 16:18

RIYADH. KAZINFORM Ambassador of Kazakhstan to Saudi Arabia H.E. Mr. Berik Aryn met with Mr. Yousef Al-Benyan, the CEO of the Saudi Basic Industries Corporation (SABIC), the press service of the Kazakh Embassy in Riyadh informs.

The parties discussed the ways to establish bilateral cooperation, including the participation of SABIC in large investment projects in Kazakhstan in the field of petrochemicals.

Ambassador informed counterpart on the investment climate in Kazakhstan, in particular on the opportunities and preferences in the country, as well as introduced several Kazakhstan projects that can serve the interests of SABIC.

Al-Benyan expressed interest in establishing mutually beneficial cooperation with the Kazakh side and pledged to study the projects to develop specific points of convergence that might be of common interest to the two countries.

Following the meeting, the parties agreed to continue negotiations, including in Kazakhstan.

The diversified company «SABIC» was founded in 1976, and its activity aimed at the production of various kinds of chemicals, industrial polymers, fertilizers, and metals. Today, SABIC is the fourth largest petrochemical company in the world, in particular, the third-largest producer of polyethylene, the fourth-largest producer of polyolefins and polypropylene, and the world’s largest producer of monoethylene glycol, polycarbonate, polyphenylene, and polyetherimide.

SABIC operates in more than 50 countries and has around 40 thousand employees. SABIC’s global manufacturing facilities are located in the Americas, Europe, the Middle East, and the Asia-Pacific region. SABIC actively promotes the development of technology and innovation, with more than 11 thousand global patent applications and significant research resources. The total assets of the company are more than 85 billion U.S. dollars.