History
The Saudi Basic Industries Corporation SABIC was founded in 1976 by Royal Decree to convert oil by products into useful chemicals, polymers and fertilizers. SABIC's founding transformed the small fishing villages of Jubail on the Arabic Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tons, five years later production rose to 13 million tons and by 2003 production had risen to 42 million metric tons. SABIC employs above 30,000 people globally and has 60 manufacturing and compounding plants in more than 40 countries.
SABIC's manufacturing network in Saudi Arabia consists of 18 affiliates. Most of these are based in the Al-Jubail Industrial City on the coast of the Arabic Gulf. Two are located in Yanbu Industrial City on the Red Sea and one in eastern province city of Dammam. SABIC is also partners in three regional ventures based in Bahrain. SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE and polyethylene. The Saudi Iron and Steel Company (HADEED), based in Al-Jubail, is one of the world’s biggest fully integrated producers.
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