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Saudi Basic Industries Corporation, the Middle East s biggest petrochemicals producer, will pay out a total 2020 cash dividend of 9 billion Saudi riyals ($2.4bn) after shareholders approved a 4.5bn riyals dividend for the second half of last year.
The second-half cash dividend of 1.5 riyals per share represents 15 per cent of the nominal share value of Sabic and will be distributed to eligible shareholders on May 3, the company said in a statement on Wednesday. The company’s board recommended a similar dividend for the first half of 2020, despite the pandemic-driven economic headwinds.
Sabic reported a 70 million riyals net profit for 2020, down 98.65 per cent from the previous year on the back of lower average selling prices in most products. Impairment provisions in certain capital and financial assets also dented the company’s annual profit.
SIRC, SABIC to realize Saudi vision 2030 objective of circular economy
4/8/2021
Saudi Investment Recycling Company (SIRC), a wholly owned subsidiary of Saudi Public Investment Fund (PIF), signed a Memorandum of Understanding (MoU) with SABIC, a global leader in diversified chemicals, to help SIRC set up its first chemical recycling project to enable the use of recycled plastic feedstock.
The MoU, signed at SABIC headquarters in Riyadh on April 5, 2021, also proposed a feasibility study on building a chemical recycling plant in the Kingdom to convert Mixed Plastic Waste (MPW) into pyrolysis oil.
“This strategic collaboration will help us in our efforts to contribute to fulfilling the Kingdom’s waste management objectives aligned with Saudi Vision 2030,” said Yousef Al-Benyan, SABIC Vice Chairman and CEO.
Sabic, SIRC to set up recycling project; eye plastic waste-to-oil plant
Riyadh, Dubai, 5 hours, 15 minutes ago Sabic, a global leader in diversified chemicals, signed a Memorandum of Understanding (MoU) with the Saudi Investment Recycling Company (SIRC), a wholly owned subsidiary of Saudi Public Investment Fund (PIF), to help the latter in setting up the first chemical recycling project to enable the use of recycled plastic feedstock. The MoU, signed at Sabic headquarters in Riyadh on April 5, 2021, also proposed a feasibility study on building a chemical recycling plant in the Kingdom to convert Mixed Plastic Waste (MPW) into pyrolysis oil. “This strategic collaboration will help us in our efforts to contribute to fulfilling the Kingdom’s waste management objectives aligned with Saudi Vision 2030,” said Yousef Al-Benyan, Sabic Vice Chairman and CEO.
SIRC, Sabic mull new chemical recycling plant in Saudi Arabia
DUBAI, 3 hours, 57 minutes ago Saudi Investment Recycling Company (SIRC), a subsidiary of Saudi Public Investment Fund (PIF), said it has signed a MoU with Saudi petrochemical giant Sabic to help achieve a circular economy, one of the key objectives of Saudi Vision 2030. As per the deal, SIRC will source, collect, sort and supply the feedstock for the chemical recycling facility from municipal solid waste. The MoU, which was recently signed at Sabic headquarters in Riyadh, also proposed a feasibility study on building a chemical recycling plant in the kingdom to convert mixed plastic waste (MPW) into pyrolysis oil.
Sabic, SIRC to set up recycling project; eye plastic waste-to-oil plant
Riyadh, Dubai, 3 hours, 27 minutes ago Sabic, a global leader in diversified chemicals, signed a Memorandum of Understanding (MoU) with the Saudi Investment Recycling Company (SIRC), a wholly owned subsidiary of Saudi Public Investment Fund (PIF), to help the latter in setting up the first chemical recycling project to enable the use of recycled plastic feedstock. The MoU, signed at Sabic headquarters in Riyadh on April 5, 2021, also proposed a feasibility study on building a chemical recycling plant in the Kingdom to convert Mixed Plastic Waste (MPW) into pyrolysis oil. “This strategic collaboration will help us in our efforts to contribute to fulfilling the Kingdom’s waste management objectives aligned with Saudi Vision 2030,” said Yousef Al-Benyan, Sabic Vice Chairman and CEO.