MATERIALS SECTOR
Nama Chemicals
Growth with Substance
Nama Chemicals
- www.nama.com.sa
- Year company founded: 1992
- Number of employees: 390
- Market capitalization: SAR 555 million
Nama Chemicals was founded in 1992 and has grown to become one of the strongest chemical producers in the Middle East. The company’s mission is to supply its customers with the highest quality products and to maximize benefits for all of its stakeholders through strategic growth.
Abdullah bin Mohammed Al Salem
CEO, Nama Chemicals
Abdullah bin Mohamed Al Salem, CEO of Nama Chemicals, said, “Quality is a priority for our clients and for us, which is why we aim to be recognized as a quality product manufacturer and provider both regionally and internationally by constantly implementing international best practices across all our operations.”
Nama Chemicals began its operations in 1995 by starting a manufacturing unit to produce 30,000 tons of soda prill followed in 1999 by starting an epoxy resin plant to produce 20,000 tons. Over a short period of time, Nama quickly transformed into a global soda prill manufacturer and a semi-integrated epoxy resin complex. Nama is actively contributing to localization initiatives as more than 50 percent of the raw materials used in Nama’s plants are produced in Saudi Arabia by local producers.
Nama Chemicals focuses on three sectors - mining and oil production, industrial application, and construction. Aligned with Saudi Vision 2030, Al Salem believes Nama helps to serve the Vision 2030 purpose of diversifying the economy. The company works to leverage its position to increase support for the Vision by collaborating with the Ministry of Industry and Mineral Resources, the Saudi Industrial Development Fund (SIDF), and the National Industrial Development and Logistics Program.
The Saudi Exchange is playing an instrumental role in allowing us to achieve a resilient and robust system.
Nama Chemicals holds a major share of the epoxy market in the Middle East
The Saudi Exchange recent initiatives have allowed Nama Chemicals to adopt and enhance its current governance practices in line with international best standards. "It is time for Saudi companies to discover and learn best practices from developed markets that will support us by helping to enhance our governance efforts", said Al Salem. The Saudi Exchange is playing an instrumental role in allowing us to achieve a resilient and robust system.
Nama Chemicals' five-year strategy has identified the opportunities required to grow, which include being aware of global market events that may affect the chemical industry. The company believes that in order to succeed in the industry, sector leaders must be prepared to shift the business structure at any point to align with the global standards, and the implementation of ESG practices is necessary in the process.
The chemicals company is dedicated to protecting the environment through various measures. It participates in the Responsible Care Program and in particular environmental aspects of it in accordance to Royal commission of Jubail and Yanbu regulations and standards to ensure that the entire process of producing, developing and shipping materials does not impact the environment negatively. Reflecting on the inter-connected priorities of stakeholders, Al Salem notes, “As a member of Al Jubail community, nearly all investors make an active effort to contribute positively to the environment.
Nonetheless, Nama Chemicals continues to remind investors about the importance of being socially responsible by providing educational programs to raise awareness of how to positively contribute to the community.”
Looking ahead, Nama Chemicals is working toward creating innovative products by digitalizing its operations and deploying the technology as a cost-efficient alternative for product development.
Nama Chemicals, established in 1992, sells chemical and petrochemical products in Saudi Arabia, and exports to almost 50 countries. As the Kingdom moves away from an oil-dependent economy to a fully diversified industrial base, Nama is playing an important role in this transition by using local natural resources, providing employment opportunities for Saudi nationals and following the most rigorous global standards for quality control and process management. These allow it to produce high quality products that contribute to the safety and quality of life for people around the world.
By developing new grades of epoxy resin, the company is diversifying and extending its global presence. It has entered into a long-term contract with Huntsman, one of the world leaders in the epoxy industry, to supply specialty epoxy grades for their customers in EU countries. Nama also holds a major share of the epoxy market in the Middle East, especially in the paints, coatings and composites industries, as well as supplying allied chemical products to Saudi Aramco, SABIC, SADARA and Chevron.
Nama’s listing on the Saudi Exchange has ensured it provides the highest level of transparency to shareholders, customers, suppliers, and the general public. As a result of its listing, the board of directors, led by Chairman Hazim Al Fardan is focused on ensuring that the company operates in a transparent and effective manner so that it is able to fully contribute to the national economy and maximize shareholder value.
The epoxy industry is customer oriented and Nama has the flexibility to adapt to a globally competitive market while meeting evolving environmental requirements. It is a member of the Gulf Petrochemical Association, which practices the Responsible Care Management System, and participates in EcoVadis, an online corporate social responsibility platform to share information with customers.
With Vision 2030 presenting a chance for all industries to grow, Nama is exploring new opportunities with the support of industry enablers like the Saudi Industrial Development Fund and Industry Cluster Program.
Nama Chemicals is a Saudi joint stock company that creates value for the national economy by using local natural resources in its dynamic growth strategy in the chemical and petrochemical businesses.
Nama Chemicals produces epoxy resin, epichlorohydrin, caustic soda prills & caustic soda liquid, hydrochloric acid, sodium hypochlorite and calcium chloride. The total installed capacity of all plants is around 360 KMT. The company sells locally and also exports to almost 50 countries.
52% Workforce are Saudi nationals
Nama is actively engaged in enhancing the well-being of Saudi Arabia, as well as surrounding communities by using the most advanced production processes in the industry. As a result of its focus on ensuring the fast delivery of its products, its high customer service and efficiency standards and above all the absolute integrity it has in its approach to business, the company is confident of a prosperous future for Nama and its stakeholders.
As Saudi Arabia moves away from an oil-dependent economy to a fully diversified industrial base, Nama is playing an important role in this transition by following the most rigorous global standards for quality control and process management, to produce high quality products that contribute to the safety and quality of life for people around the world. Vision 2030 is presenting numerous opportunities for all industries to grow and contribute to the achievement of 2030 objectives. Nama Chemicals has already started exploring these opportunities with support from industry enablers in KSA, such as SIDF and Industry Cluster Program.
Nama and its affiliates are certified with ISO standards 9001 (Quality), 14001 (Environment Protection), and 18001 (Occupational Health and Safety). Together these form the company’s integrated Management System. Nama is dedicated to all aspects of health, safety, and environmental issues and subscribes to the Responsible Care program, ensuring that all its products meet the demanding requirements of the appropriate global regulations.
Nama gives special importance to its human resources and localization of jobs program. It works continuously according to its board of directors' plans to employ and develop national cadres, and is working to raise the percentage of Saudi nationals employed at the company which is currently at 52 percent. Also, Nama is employing newly graduated Saudis from universities and colleges to work in various technical jobs, qualifying them through intensive specialized courses in their technical work field and subsequently training them “on-the-job” to achieve the highest level of efficiency.