SABIC’s new Chairman, Abdul-Aziz Al Jarbou, is integral to Saudi Arabia’s push to achieve Vision 2030. As the MENA region’s largest non-oil company, and one of the world’s top 10 largest petrochemical manufacturers, SABIC piques the interest of energy investors both near and far.
- Saudi Basic Industries is acting in tandem with Aramco to drive forward the national economy. Although involved in the energy sector, it is spearheading the push towards diversifying the Kingdom’s petroleum dependent economy, giving it a heightened level of importance.
- The strategic nature of SABIC means that it is almost immune from power players. In order to function properly and follow best practice, royal meddling in its affairs appears to be banned, or at least scaled down massively.
- Given Mohammed bin Salman’s penchant for attracting investment, there may come a point when outsider access to SABIC is granted, in the form of an IPO or private sale of the company’s paid up capital.
Saudi Aramco dominates headlines in Saudi’s energy sector, but the petrochemical industry consists of more than just this one company. In this vein, today’s insight picks apart Saudi Basic Industries Corporation, a chemical industries company that held a market cap of U.S. $80.4 billion in 2017.