National Petrochemical Company (Petrochem)
Petrochemicals are an integral part of our modern lifestyles, found in everything from fertilizers, to clothing, digital devices, to medical equipment. They are even found in many parts of a modern energy system, including solar panels, wind turbine blades, batteries, thermal insulation for buildings, and electric vehicle parts.
The Saudi government continues to invest in the sector, supporting Saudi-foreign joint ventures in new petrochemical projects and encouraging further investor participation. Petrochem’s listing on the Saudi Exchange provides the company with access to these investors, along with the transparency that sophisticated investors need while also inspiring the company to achieve greater efficiency in order to generate strong returns.
SAR 4.8 billion The company’s paid-in-capital
The company’s state-of-the-art Saudi Polymer Plant (SPCo), built in partnership with Chevron Phillips Chemical, continues to improve production rates and quality using the latest technologies and processes. The plant’s environmental performance has been recognized by the Royal Commission, while achieving ISO17025 accreditation, which is the highest Laboratory Quality Management certification.
The company’s success directly benefits Saudi Arabia because a large portion of Petrochem shares are owned by Saudi pension funds. In line with the national development plan, the company also seeks to recruit and train Saudis, and already has a Saudization rate above 70%.
The National Petrochemical Company “Petrochem” is a Saudi Joint Stock Company listed on the Saudi Exchange. The company was established in 2008 with current paid-in-capital of SAR 4.8 billion. Petrochem’s main business is investing in the petrochemical industry by using its strategic partnerships and the Kingdom’s natural resources. Petrochem owns 65 percent of the Saudi Polymer Company, located in Jubail Industrial City, which was built at a cost of more than SAR 21 billion and produces and sales more than 1.7 million tons of products per year.
Along with its partner Chevron Phillips Chemical, Petrochem has built a scale petrochemical plant, Saudi Polymer Company