Sabic History
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| 1970 | |
| ・ | Price of oil on international market averages just $1.30 per 42-gallon barrel. |
| ・ | First Saudi Five Year Plan is drafted under King Faisal’s direction and released as first step in diversification of Saudi economy. |
| 1971 | |
| ・ | Average price of oil on international market is $1.65 per barrel. |
| ・ | Saudi Arabian Fertilizer Company (SAFCO), founded in 1965 as first Saudi Arabian petrochemical industry, begins manufacturing sulfuric acid and urea at Dammam. |
| ・ | Steel Rolling Company (SULB), predecessor to Saudi Iron and Steel Company (HADEED) is formed. |
| 1972 | |
| ・ | Average price of oil on international market is $1.90 per barrel. |
| 1973 | |
| ・ | In December, Organization of Petroleum Exporting Countries (OPEC) imposes embargo on shipments of oil to the United States. |
| ・ | Average price of oil rises to $2.70. |
| ・ | Work begins on port facilities for Al-Jubail Industrial City. |
| 1974 | |
| ・ | OPEC ends oil embargo. |
| ・ | Average price of oil rises to $9.76. |
| 1975 | |
| ・ | Oil price is at $10.72. |
| ・ | Royal Decree creates Royal Commission for Al-Jubail and Yanbu, calling for the building of two Industrial Cities. |
| ・ | Al-Jubail Master Plan is commissioned. |
| ・ | Second Five Year Plan sets in motion building of Al-Jubail and Yanbu Industrial Cities. |
| ・ | King Faisal, father of modern Saudi Arabia, dies. |
| ・ | King Khalid succeeds to throne. |
| ・ | Transfer of petrochemicals from Petromin begins, subsequently leading to creation of Saudi Basic Industries Corporation (SABIC). |
| 1976 | |
| ・ | SABIC is established by Royal Decree signed by King Khalid. |
| ・ | Yanbu Master Plan is commissioned. |
| ・ | Work begins on industrial and commercial port and desalination plant. |
| ・ | Negotiations get under way between SABIC and Shell Oil Company on joint venture to build a plant to make ethylene, styrene, ethylene dichloride, crude industrial ethanol, and caustic soda. |
| ・ | SABIC and Mobil Corporation negotiate terms on joint venture to build a plant to produce ethylene, linear low-density polyethylene, and ethylene glycol. |
| ・ | SABIC and Dow Chemical Company begin negotiations on joint venture to manufacture ethylene, low-density polyethylene, and ethylene glycol. |
| ・ | SABIC and Exxon Chemical Company conduct negotiations for joint venture to produce ethylene and polyethylene. |
| ・ | SABIC and a group of Japanese companies, including Mitsubishi Gas Chemical, C. Itoh, and others, negotiate terms for joint venture for manufacturing chemical grade methanol. |
| ・ | SABIC negotiates with German steelmaker Korf-Stahl on joint venture to produce sponge iron and steel billets. |
| 1977 | |
| ・ | Construction camps are erected at Al-Jubail and ground is broken for industrial infrastructure. |
| ・ | Discussions begin with potential partners, contractors, and raw materials suppliers for planned steel project. |
| ・ | Talks result in scaling down size of project from 3 million tons per year originally proposed to 800,000 tons per year; SABIC opens its own offices in apartment building in Riyadh. |
| ・ | SABIC and Shell continue negotiating joint venture. |
| ・ | SABIC personnel go to the United States for training; SABIC and Dow Chemical sign interim agreement on joint venture. |
| ・ | SABIC and Exxon sign interim agreement. |
| ・ | SABIC and a Japanese consortium sign interim agreement. |
| ・ | SABIC and Korf-Stahl sign interim agreement. |
| ・ | Lurgi Company of Germany is invited to submit proposal for a steel reduction unit. |
| ・ | SABIC begins studies that could lead to joint venture in aluminum smelting project. |
| ・ | SABIC studies production of methanol in joint venture with Celanese and Texas Eastern. |
| ・ | 54 headquarters employees occupy SABIC’s first office building in Riyadh. |
| 1978 | |
| ・ | Building of Al-Jubail Industrial City begins. |
| ・ | Yanbu medical clinic is established. |
| ・ | Al-Jubail Human Resources Training Center is opened. |
| ・ | Negotiations continue with contractors and raw materials suppliers. |
| ・ | At end of year, SABIC has 131 employees. |
| ・ | Joint venture negotiations with Shell, Mobil, Dow, Exxon, Japanese consortium, Celanese/Texas Eastern, and Taiwan continue. |
| 1979 | |
| ・ | Saudi Methanol Company (AR RAZI) is formed. |
| ・ | Al-Jubail airport runway is completed. |
| ・ | King Khalid inaugurates Yanbu Project. |
| ・ | Al Nawa Hospital opens in Yanbu. |
| ・ | Jeddah-based SULB is expanded. |
| ・ | Regional partnerships are created with Aluminium Bahrain (ALBA), Gulf Aluminium Rolling Mill Company (GARMCO), and Gulf Petrochemicals Industries Company (GPIC) in Bahrain. |
| ・ | More than 100 young men are sent abroad for advanced education and training with joint venture partners; staff size increases to 189. |
| 1980 | |
| ・ | Construction of HADEED begins in Al-Jubail. |
| ・ | Saudi Arabia crude oil reserves are estimated at 165 billion barrels. |
| ・ | Production of crude oil per year approaches 10 billion barrels. |
| ・ | Iraq-Iran war begins. |
| ・ | Over two-year period, crude oil prices rise from $13 to $34 a barrel. |
| ・ | Ministers approve third Five Year Plan designed to consolidate industrial infrastructure and extend Saudization program. |
| ・ | Saudi Petrochemical Company (SADAF) is formed. |
| ・ | Al-Jubail Petrochemical Company (KEMYA) is formed. |
| ・ | Saudi Yanbu Petrochemical Company (YANPET) is formed as a SABIC affiliate in Yanbu. |
| ・ | Al-Huwaylat Hospital is opened, and first baby is born in Al-Jubail Industrial City. |
| ・ | Al-Nawa Hospital opens in Yanbu, and first baby is born. |
| ・ | Third Development Plan calls for five new primary industries in Yanbu. |
| ・ | HADEED confronts pessimism as World Bank advises against steel making in favor of iron making. |
| ・ | Employee training school starts with 400 students. |
| ・ | 205 headquarters staff employees move into SABIC’s second headquarters building. |
| 1981 | |
| ・ | Eastern Petrochemical Company (SHARQ) is formed; Arabian Petrochemical Company (PETROKEMYA) is formed. |
| ・ | King Fahd Industrial Port is completed at Al-Jubail, and first ship arrives. |
| ・ | Transcontinental oil pipelines and Aramco Crude Oil Terminal go on line. |
| ・ | SABIC employment reaches 224. |
| 1982 | |
| ・ | Al-Jubail Industrial City becomes largest construction project in the world. |
| ・ | Work begins on National Methanol Company (IBN SINA) complex at Al-Jubail. |
| ・ | First shipment of iron ore is received at Al-Jubail. |
| ・ | HADEED is first primary industry to start production. |
| ・ | King Khalid passes away and Crown Prince Fahd succeeds to the throne. |
| ・ | With construction projects underway, employment reaches 256 at headquarters, with 3,955 employed in construction. |
| ・ | Global oil glut affects prices; crude oil production slumps to average of 6.5 million barrels of oil per day. |
| ・ | Master Gas System in Eastern Province becomes fully operational. |
| 1983 | |
| ・ | Abdulaziz Al-Zamil is appointed Minister of Industry and Electricity and Chairman of SABIC’s board of directors. |
| ・ | Ibrahim Ibn Salamah is appointed SABIC’s second Vice Chairman and Managing Director, succeeding Al-Zamil. |
| ・ | SABIC participates in Saudi Industries Exhibition, Vienna International Fair, Saudi Week in Denmark, and PETCHEMPLAST l983. |
| ・ | SABIC announces it will offer a portion of its shares for public subscription in 1984. |
| ・ | Three new industries start production: HADEED ,with production capacity of 800,000 metric tons per year (mt/y) of steel reinforcing bars and rods; SAMAD, with capacity to manufacture 500,000 mt/y of urea; and AR RAZI, with production capacity of 600,000 mt/y of chemical grade methanol. |
| ・ | National Industrial Gases Company (GAS) is formed. |
| ・ | On April 20, first shipment of 33,000 metric tons of chemical grade methanol produced by AR RAZI leaves for Japan. |
| ・ | A 2,240-ton module - the largest load ever conveyed by land - arrives from Japan for PETROKEMYA. |
| ・ | Al-Jubail Area Mutual Aid Building Association (JAMAA) is formed to deal with industrial emergencies. |
| ・ | New SABIC headquarters opens in Riyadh and 276 headquarters employees move in. |
| ・ | SABIC Marketing Ltd. and SABIC Services Limited are established. |
| ・ | By end of year, 2,500 Saudi young men complete SABIC’s training programs. |
| ・ | Total manpower at SABIC reaches 5,489, of whom 2,853 are Saudi nationals. |
| 1984 | |
| ・ | The Custodian of the Two Holy Mosques, King Fahd, inaugurates HADEED, SAMAD, and AR RAZI in Al-Jubail. |
| ・ | National Plastic Company (IBN HAYYAN) is established in partnership with Saudi private sector investors. SABIC signs Memorandum of Association for establishment of Saudi European Petrochemical Company (IBN ZAHR) joint venture with Neste Oy of Finland, Enichem of Italy, and APICORP (the Arab Petroleum Investment Corporation). |
| ・ | National Chemical Fertilizer Company (IBN AL-BAYTAR) is formed. |
| ・ | Five SABIC industries come on stream ahead of schedule: IBN SINA, SADAF, KEMYA, YANPET, and GAS; they start initial operations. |
| ・ | First public offering of SABIC shares sells out, exceeding all expectations, with total demand about three times the number of shares originally proposed; 30 percent of SABIC shares are now held by private sector. |
| ・ | SABIC Technical Services Laboratory is built in Riyadh and equipped with advanced facilities for product development and testing. |
| ・ | Marketing activity begins, coinciding with production of linear low density polyethylene. |
| ・ | Of 6,953 employees of SABIC, 3,280 are Saudi nationals. |
| 1985 | |
| ・ | Fourth Five Year Plan calls for economic efficiencies, greater productivity, and encouragement of greater private sector participation. |
| ・ | International joint venture partners now include Shell, Mobil, Exxon, Taiwan Fertilizer Company, Mitsubishi Group, Celanese, Neste Oy, and Enichem. |
| ・ | PETROKEMYA, with design capacity of 500,000 mt/y of ethylene, commences production. |
| ・ | SHARQ, with design capacity for 130,000 mt/y of Ladene and 300,000 mt/y of ethylene glycol, comes on stream. |
| ・ | YANPET, with design capacity for 560,000 mt/y of ethylene, 430,000 mt/y of polyethylene, and 250,000 mt/y of ethylene glycol, becomes operational. |
| ・ | All 12 first generation domestic industries are now on stream. |
| ・ | SABIC Marketing Ltd. prepares to market all chemical grade methanol produced by GPIC of Bahrain, in which SABIC is a joint venture partner (representing Saudi Arabia) with Bahrain and Kuwait. GPIC begins production of 330,000 mt/y of methanol and 330,000 mt/y of ammonia. |
| ・ | On August 30, new 43,000 dead weight tons chemical tanker Oqbah Ibn Nafie departs from King Fahd Industrial Port on her maiden voyage with 42,000 metric tons of chemical grade methanol manufactured by IBN SINA. It is the Kingdom’s largest single export shipment of petrochemicals to date. |
| ・ | Ladene becomes trademark for all of SABIC’s plastic resins. |
| ・ | SAFCO adds melamine production. |
| ・ | SABIC launches first worldwide corporate advertising program in leading international, regional, and national media in North America, Europe, and Asia. |
| ・ | Production hits 6.3 million metric tons. |
| ・ | Saudi crude oil production bottoms out at 3.3 million barrels of oil per day. |
| ・ | Employment rises to 8,001, more than half of whom are Saudi nationals. |
| 1986 | |
| ・ | SABIC celebrates its first decade with 13 world class manufacturing projects on stream and two more scheduled to begin production in 1988. |
| ・ | Ladene resins are featured at SABIC’s inaugural appearance at K’86 plastics trade fair in Dusseldorf, Germany. |
| ・ | Construction begins on IBN ZAHR facilities. |
| ・ | YANPET begins commercial production. |
| ・ | IBN HAYYAN begins production of VCM (vinyl chloride monomer) and PVC (polyvinyl chloride). |
| ・ | SABIC production reaches 9 million metric tons. |
| ・ | Al-Farabi chemical tanker is launched for transporting products of SADAF, the second of SABIC’s dedicated tankers to be put into service. |
| ・ | Employment rises to 8,319, of whom 4,271 are Saudi nationals. |
| 1987 | |
| ・ | IBN AL-BAYTAR starts up as joint venture with SABIC and SAFCO. |
| ・ | PETROKEMYA in Al-Jubail starts up 50,000 mt/y butene-1 monomer plant. |
| ・ | Production capacity at eight of SABIC’s 14 operating industries increases by more than 1 million mt/y to bring total non-metal production capacity to 9.2 mt/y, an increase of more than 13 percent. |
| ・ | SABIC announces decision to develop an industrial research and development complex. |
| ・ | SABIC’s total manpower at year-end is 8,105, of whom 4,300 are Saudi nationals. |
| 1988 | |
| ・ | IBN AL-BAYTAR begins commercial production. |
| ・ | IBN ZAHR begins commercial production of methyl-tertiary butyl ether with design capacity of 500,000 mt/y. |
| ・ | PETROKEMYA begins production of plastic resin polystyrene at rate of 100,000 mt/y. |
| ・ | SABIC splits its shares 10 for 1 and pays its first dividend of SR 25 per share. |
| ・ | SABIC earns recognition as the most dynamic industrial organization in the Middle East. |
| ・ | SABIC Marketing Ltd. opens offices in Great Britain, Japan, and the United States. |
| ・ | SABIC Marketing Services Limited establishes offices in Hong Kong and Tokyo. |
| ・ | SABIC Technical Services Laboratory opens in Riyadh Industrial City. |
| ・ | Production reaches 10.9 million tons. |
| ・ | Iraq-Iran hostilities cease. |
| ・ | At year end, SABIC employment is 8,219, of whom 4,633 are Saudi nationals. |
| 1989 | |
| ・ | All 15 of SABIC’s first generation of industries are now fully on stream. |
| ・ | Construction progresses at HADEED, more than doubling steel production capacity to 2,000,000 tons per year. |
| ・ | SABIC Marketing’s customers now number more than 2,300, an increase of 46 percent over 1988 customer base. |
| ・ | First product sales are made in South America. |
| ・ | SABIC manpower rises to 8,938, of whom 5,320 are Saudi nationals. |
| ・ | SABIC’s Technical Services Laboratory becomes part of SABIC Research and Development Organization. |
| 1990 | |
| ・ | Fifth Five Year Plan emphasizes expansion of social services and encourages support for non-oil sectors, such as SABIC. |
| ・ | King Fahd Industrial Port accommodates 900 ships moving 21 million tons of bulk feedstocks and products. |
| ・ | Gulf War begins, but SABIC’s industries maintain full production. |
| ・ | Marketing activities continue to operate normally. |
| ・ | Second marketing subsidiary is formed in Houston, Texas, to conduct market research for SABIC and its affiliates. |
| ・ | SABIC Marketing Asia Ltd. is formed in Hong Kong to serve growing economies of Asia. |
| ・ | Millions see Arabia: Sand, Sea, and Sky, a film study of natural environment in the Arabian Peninsula, jointly supported by SABIC, Aramco, and Mobil. |
| ・ | National Chemical Carriers (NCC), a national shipping company, is formed. SABIC has a 20% interest. |
| ・ | Second generation of expansion projects is announced. |
| ・ | Production reaches 11.5 million metric tons. |
| ・ | Of 8,700 SABIC employees, 60 percent are now Saudi nationals. |
| 1991 | |
| ・ | SAFCO begins manufacture of liquid fertilizers. |
| ・ | IBN
AL-BAYTAR begins coSaudi Arabian Fertilizer Marketing
Company (SANAPIK) is created to provide SABIC customers with single source for product supply and service.mmercial production of liquid fertilizers, urea, compound fertilizers, and phosphates. |
| ・ | SAFCO builds second fertilizer complex at Al-Jubail. |
| ・ | SABIC Industrial Complex for Research and Development begins operations in Riyadh. |
| ・ | Gulf War ends. |
| ・ | Production reaches 13 million metric tons. |
| ・ | Employment rises to 9,730, of whom 6,032 are Saudi nationals. |
| 1992 | |
| ・ | IBN SINA begins production of MTBE in Al-Jubail. |
| ・ | Expansion of AR RAZI is completed, doubling its capacity to make it world’s largest producer of chemical grade methanol in a single complex. |
| ・ | SAMAD announces it will diversify into production of 2 ethylhexanol (2-EH). |
| ・ | SABIC and its affiliates initiate Total Quality Management (TQM) programs. |
| ・ | Four SABIC affiliates become first companies in Middle East to receive ISO 9002 certification. |
| ・ | SABIC’s total manpower rises to 11,137; 61 percent are Saudi nationals. |
| 1993 | |
| ・ | Arabian Industrial Fibers Company (IBN RUSHD) is established at Yanbu as 16th manufacturing affiliate. |
| ・ | PETROKEMYA is expanded as a new flexible feed ethylene cracker comes on stream, producing ethylene, propylene, butadiene, and benzene. |
| ・ | IBN ZAHR’s second MTBE plant comes on stream. |
| ・ | GAS increases capacity for production of oxygen and nitrogen. |
| ・ | SHARQ boosts production of ethylene glycol. |
| ・ | SAFCO’s new fertilizer complex at Al-Jubail comes on stream. |
| ・ | New SABIC marketing subsidiaries are formed in Germany, Italy, and Singapore. |
| ・ | SABIC Marketing Services Ltd. is renamed SABIC Services Ltd. |
| ・ | Licensing agreements are granted for SABIC- and IFP-developed butene-1 technology. |
| ・ | Production hits 17.1 million metric tons. |
| ・ | By end of year, SABIC has invested SR37.5 billion ($10 billion) and foreign partners SR30 billion ($8 billion), a total of SR67.5 billion ($18 billion), in SABIC projects. |
| ・ | Total manpower now stands at 11,442, of whom 7,101 are Saudis. |
| 1994 | |
| ・ | SAFCO and IBN-BAYTAR unify management and consolidate operations. |
| ・ | SABIC Services Limited (SSL) takes on corporate-wide responsibilities. |
| ・ | SABIC’s 16th manufacturing affiliate, IBN RUSHD, is under construction in YANBU; upon completion, it would produce aromatics, terephthalic acid, PET bottle resin, and polyester yarn and staple. |
| ・ | SADAF adds MTBE to product portfolio. |
| ・ | SABIC Industrial Complex for Research and Development is dedicated by Prince Salman Ibn Abdulaziz, Governor of Riyadh Region. |
| ・ | Production leaps to 20.7 million metric tons. |
| ・ | Employment rises to 11,474 with 63% Saudization. |
| 1995 | |
| ・ | SABIC earns record net profit of SR6.3 billion (US$1.67 billion). |
| ・ | Dr. Hashim A. Yamani is appointed Minister of Industry and Electricity and Chairman of SABIC, replacing Abdulaziz Al-Zamil. |
| ・ | Themes for sixth Five Year Plan include stronger private sector, more emphasis on strategic planning, and further Saudization of manpower. |
| ・ | SABIC advertising reflects new global image, changing its original signature, “SABIC for the Long-term,” to “SABIC - The Power to Provide.” |
| ・ | SABIC Terminal Services Company Ltd. (SABTANK) is formed. |
| ・ | Expansions of IBN ZAHR, IBN HAYYAN, and SAMAD are completed. |
| ・ | Contracts for IBN RUSHD PTA and aromatics plants are awarded. |
| ・ | IBN RUSHD polyester plant starts up. |
| ・ | European marketing subsidiaries are dedicated in Germany and Italy. |
| ・ | Production rises to 22 million mt/y. |
| ・ | Investment by 350 private plastics manufacturing facilities in Saudi Arabia reaches SR2 billion ($534 million). |
| ・ | Employment is now at 12,084, and SABIC maintains Saudization at 63%. |
| 1996 | |
| ・ | IBN HAYYAN Plastic Products Company (TAYF) is incorporated in partnership with Saudi private sector. |
| ・ | SABIC launches first international television advertising campaign. |
| ・ | SABIC celebrates 20th anniversary of Royal Decree by King Khalid that established the company. |
| ・ | Prince Abdulmajed Ibn Abdulaziz, Governor of Medinah, presides at ceremonies to inaugurate Phase I of IBN RUSHD polyester complex in Yanbu. |
| ・ | SABIC begins production of di-octyl phthalate (DOP) at SAMAD. |
| ・ | HADEED increases steel production by 850,000 metric tons. |
| ・ | YANPET announces plans to double its ethylene cracking capacity. |
| ・ | GAS builds new production complex at Yanbu. |
| ・ | SABIC’s continued growth makes it largest joint stock company in the Middle East. |
| ・ | SABIC Satellite Technology Centers are planned to develop relevant technology in their host countries. |
| ・ | Production now stands at 22.8 million mt/y. |
| ・ | Employment rises to 13,139, of whom 8,755 are Saudis. |
| 1997 | |
| ・ | Prince Sultan Ibn Abdulaziz, Second Deputy Premier, Minister of Defense and Aviation, and Inspector General, lays cornerstone of new HADEED flat steel plant, inaugurates Gulf Ferro Alloys Company (SABAYEK), in which SABIC Industrial Investments Company is a shareholder, and SADAF’s expansion project. |
| ・ | SABIC opens first overseas Satellite Technology Center in Houston, Texas. |
| ・ | SABIC restructures into Strategic Business Units (SBUs) grouped into five core business sectors: Basic Chemicals, Intermediates, Fertilizers, Polymers, and Metals. |
| ・ | New corporate “wordmark” logo is introduced. |
| ・ | All SABIC manufacturing affiliates and SABIC marketing organizations become ISO 9002 quality certified. |
| ・ | SABIC assets top $18 billion and production hits nearly 24 million mt/y. |
| ・ | Production increases to 18.4 million metric tons of petrochemicals, plastics, fertilizers, and steel. |
| ・ | SABIC’s share of world petrochemical markets is estimated at 5 percent. |
| ・ | SABIC now has 14,238 employees, of whom 70 percent are Saudis. |
| 1998 | |
| ・ | Council of Ministers appoints Mohamed H. Al-Mady as the third Vice Chairman and Managing Director of SABIC, succeeding Ibrahim A. Ibn Salamah. |
| ・ | Basic Chemicals Group is formed to coordinate activities in manufacture and marketing of ethylene, methanol, MTBE, propylene, styrene, benzene, xylenes, crude industrial ethanol, butadiene, and butene-1. |
| ・ | Intermediates Group is formed to direct business strategies for industrial gases, ethylene glycol, ethylene di-chloride, caustic soda, vinyl chloride monomer, purified terephthalic acid, 2-ethyl hexanol, and di-octyl phthalate. |
| ・ | Polymers Group is formed to manage business for polyethylenes, polypropylenes, polyvinyl chloride, polyesters, polystyrene, and melamine. |
| ・ | Fertilizer Group is formed to manage business for ammonia, urea, phosphate, and sulfuric acid. |
| ・ | SABIC’s Al-Jubail office moves into a newly constructed complex. |
| ・ | Oil prices collapse, and demand for petrochemicals falls worldwide. |
| ・ | SABIC generates net profit of SR2.01 billion ($536 million). |
| ・ | Total employment stands at 15,951 and 71 percent are Saudis. |
| 1999 | |
| ・ | Kingdom of Saudi Arabia celebrates the 100th anniversary of its founding, with SABIC representing Saudi Arabia’s new industrial image. |
| ・ | SABIC’s growth rate over 23 years averages 9.6 percent per year. |
| ・ | Prices of chemicals rebound, enabling SABIC to show net profit of SR1.9 billion (US$509 million) for the year. |
| ・ | SABIC revenues exceed SR19 billion ($5.06 billion). |
| ・ | Marketed tonnage of products exceeds 20 million metric tons. |
| ・ | Production rises to more than 25 million mt/y. |
| ・ | AR RAZI starts up its fourth chemical grade methanol plant. |
| ・ | Marketing expands into Taiwan, Turkey, Sweden, and Argentina. |
| ・ | KEMYA and YANPET expand with new plants for polyethylene and ethylene glycol production. |
| ・ | IBN RUSHD begins production of benzene, paraxylene, and orthoxylene. |
| ・ | TAYF starts up, producing vinyl wall coverings, plastic boards, and artificial leather. |
| ・ | GAS diversifies to produce krypton-xenon for overseas markets. |
| ・ | Number of plastic processing factories in Saudi Arabia increases to 450. |
| ・ | SAFCO becomes second largest producer of urea fertilizer in the world. |
| ・ | HADEED’s second plant in Al-Jubail begins production of flat steel. |
| ・ | Of 15,446 SABIC employees, 11,089 (72 percent) are Saudi nationals. |
| 2000 | |
| ・ | SABIC earns net profit of SR3.6 billion ($967 million) in 1999. |
| ・ | Expansion projects coming on stream elevate production levels to 28 million mt/y and total capacity to 35 million mt/y. |
| ・ | SABIC products reach customers in more than 100 countries. |
| ・ | Success of SBUs results from customer-driven strategies. |
| ・ | Construction of new SABIC headquarters continues toward completion in 2001. |
| ・ | PETROKEMYA’s third olefins unit starts up. |
| ・ | SADAF’s second styrene plant goes on stream. |
| ・ | SABIC now counts 15,000 employees, of whom 75% are Saudis and 25% are multinational. |
| ・ | SABIC R&T develops new process to produce acetic acid. |
| 2001 | |
| ・ | SABIC celebrates its 25th anniversary. |