Saudi Arabian Basic Industries Corporation (SABIC)

The Saudi Arabian Basic Industries Corporation (SABIC) is an example, par excellence, of the practical results of the Kingdom's blend of long-range planning, long-term major investment and the judicious use of public and private sources of finance.

SABIC was established by Royal Decree in 1976 (1396/97 AH) - its task being to set up and operate hydrocarbon and mineral-based industries in the Kingdom of Saudi Arabia. The Public Investment Fund provides long-term loans to SABIC on highly concessional terms. The balance of SABIC's capital requirements come from SABIC's joint venture partners. In addition, SABIC can make use of normal commercial loans. With these sources of finance, SABIC is able to undertake industrial projects considerably in excess of its own authorized capital of 10,000 million Saudi Riyals.

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Profile of Saudi Arabia

The Country Profile contains thousands of pages of information on every aspect of the Kingdom of Saudi Arabia, including its geography, history and development (political, economic and social).