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Saudi Arabia’s SABIC awards major contract for $76 million solar project

by Utilities Middle East staff

Saudi Arabia’s chemical company SABIC has awarded a lucrative contract to Spanish utility Iberdrola for the development of a 100 MW captive solar plant for SABIC’s industrial complex in Spain. The photovoltaic (PV) solar project will have an investment of $76 million. The power plant will be located on land owned by SABIC in the […]

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SABIC’s Q1 earnings surge to $11 million despite market volatility

by Staff Writer

Saudi Basic Industries Corp (SABIC) has reported solid performance for the first quarter despite current market uncertainties, with its revenue surging to hit $10.6 billion.  During the first quarter, SABIC announced several strategic agreements and developments that helped in continuing the company’s progression towards being the preferred world leader in chemicals. Last month, SABIC Agri-Nutrients […]

Posted inPeople

SABIC appoints Al-Fageeh as CEO and executive board member

by Staff Writer

Saudi Basic Industries Corp, also known as SABIC, confirmed today the appointment of Abdulrahman Al-Fageeh as CEO and executive member of the board. Al-Fageeh has served as acting CEO of SABIC since September 28, 2022, succeeding HE Yousef Al-Benyan who was appointed Minister of Education for the Kingdom of Saudi Arabia by Royal Decree. “Abdulrahman […]

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Empowering women remains ‘key element’ in SABIC strategy

by Staff Writer

Saudi Basic Industries Corporation, known as SABIC, emphasized renewed focus on empowering women and ensuring equal career opportunities for all, as part of the company’s growth strategy and ambition to be the preferred employer globally. SABIC’s initiatives include SHE, the company’s women’s network, where participants exchange ideas and experiences, identifying opportunities in line with the […]

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SABIC, OQ to launch major project in Oman

by Staff Writer

Saudi Arabia’s SABIC, Oman’s state energy company OQ and Kuwait Petroleum International have signed an agreement to develop a petrochemicals complex in the Duqm economic zone, state news agency ONA reported on Wednesday. The complex will consist of a steam cracker and derivative units, and a natural gas liquid (NGL) extraction facility. The special economic […]