SABIC launches venture capital arm


The Saudi Basic Industries (SABIC) has launched a new global corporate venture capital arm, SABIC Ventures, in the Netherlands, with the primary goal of seeking out innovative technologies and businesses.

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Borouge III to be ready by 2013


Borouge, the polymer producer, has stated that its third phase plant will be completed on schedule by the end of 2013 and the plant will be fully operational by mid-2014.

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Sabic posts record Q3 profit


Saudi Basic Industries Corp (Sabic) posted record net profit in the third quarter of US$2.2 billion on the back of increased sales and reduced funding costs.

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EPC contract for Polymers Compounding Plant awarded by Sipchem


Gulf Advanced Cable Insulation Company has awarded the Engineering Design, Procurement and Construction (LSTK) contract for the Wire and Cable Polymers Compounding Plant to POSCO Engineering Co, South Korea.

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Third largest Yanbu refinery on the Saudi west coast


The Royal Commission for Yanbu (RCY) announced that it was building a major refinery on the Red Sea at a cost of US$5.33 billion, adding that it would be ready within three years.

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