Sabic announces purchase of agri unit by Safco
RIYADH, January 6, 2021 Saudi Basic Industries Corporation (Sabic) has announced the completion of 100% acquisition by Saudi Arabian Fertiliser Company (Safco) of Sabic Agri-Nutrients Investment Company on January 4. Safco issued 59,368,738 ordinary new shares to Sabic valued at SR10 per share at Sabic’s investment portfolio. Sabic’s ownership in Safco post this transaction increase from 42.99% to 50.1%. Sabic had entered into a share purchase agreement with Safco on December 25, 2019, pursuant to which Safco will acquire 100% of the share capital of Sabic Agri-Nutrients Investment Company. The deal comes as a result of the shared vision by Sabic and Safco, to enhance and improve efficiencies through consolidation and realization of synergies. It also envisages considerable opportunities for growth and development of competitive advantages in the global marketplace.
Expanded Polystyrene Market 2020 Highlights Various Opportunities The report provides up-to-date review of the current global market scenario, the latest developments and drivers, and the overall market environment is given in the study.
BriefingWire.com, 1/01/2021 - The Global Expanded Polystyrene Market 2020-2029 Report provides an in-depth analysis on the studied market that helps to look at the future requirement as well as prediction. The expanded polystyrene market Report evaluates the market by key market players, opportunities, value, trends, growth, market share, market competition landscape, recent developments and sales volume analysis. In addition, it magnifies the opportunity for decision-making and helps create an efficient counter-strategy to achieve a competitive advantage. The report provides up-to-date review of the current global market scenario, the latest developments and drivers, and the overall market environ
Thursday, 31 December, 2020 - 11:00
Nusaned signs strategic partnerships agreements and memoranda of understanding on Wednesday. (SPA) Riyadh - Asharq Al-Awsat
The Nusaned Council revealed that since its launch, it has graduated 106 investors qualified to start projects that will create 6,610 jobs and contribute more than SAR8.8 billion ($2.3 billion).
The Council, an initiative launched by the Saudi Basic Industries Corporation (SABIC) in 2018, celebrated on Wednesday the graduation of 43 new investors at the SABIC Plastic Applications Development Center (SPADC) in Riyadh.
It signed several strategic partnership agreements and memoranda of understanding to qualify and empower SMEs and create advanced commercial products.
The MoUs and partnerships are also aimed at bolstering cooperation with the Saudi business community and universities in the areas of sustainability and innovation and develop training and manufa
An employee looks on at a Saudi Aramco oil facility in Abqaiq, Saudi Arabia on Oct 12, 2019. [Photo/Agencies]
Countries in the Middle East and North Africa are taking steps to become major exporters of hydrogen in a bid to meet demand for cleaner sources of energy.
The countries can exploit low-cost gas resources, according to research by the Arab Petroleum Investments Corporation, a multilateral development financial institution.
In a report titled MENA (Middle East and North Africa) Power Investment Outlook 2020-2024, the institution said Saudi Arabia and Morocco have already taken measurable steps to bolster their position as low-cost exporters of blue and green hydrogen. The former is hydrogen gas that is produced by using nonrenewable energy sources. The latter refers to hydrogen gas that is produced from renewable energy sources. The countries have also taken strides in producing net-zero ammonia and other low-carbon products.