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SABIC announces the beginning of the process for creating YANSAB as a Joint-Stock Company

Source: www.gulfoilandgas.com 6/5/2005, Location: Middle East

Saudi Basic Industries Corporation (SABIC) has announced that it is in the process of establishing a Joint-Stock Company named: The National Petrochemicals Company (YANSAB) with a fully paid-up capital of SR 5.625 billion, at Yanbu Industrial City. The company is the newest SABIC affiliate and is planned to produce 4 million MTY of Ethylene, Propylene, Polyethylene, Ethylene Glycol and other petrochemical products.

SABIC has allowed its partners in the affiliates IBN RUSHED and TAIF to hold 10% of YANSAB shares. SABIC plans to obtain the necessary approvals as required by law to float 35% of capital for public subscription. SABIC will hold 55% of the paid-up capital.

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Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


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