SABIC expects SAR 5.6-6.8 bln recurring annual value from synergy with Saudi Aramco by 2025

31/01/2021 Argaam

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Saudi Basic Industries Corp. (SABIC) expects its share in the value creation and synergy with Saudi Aramco to range between $1.5 and $1.8 billion (SAR 5.63-6.75 billion) by 2025.

 

In its Q4 2020 earnings release, the major petrochemical producer added: “Approximately 80% of this value is set to be generated from six key business areas, which include procurement, sales and marketing, supply chain, stream integration, feedstock optimization and maintenance.”

 

The alignment with Saudi Aramco will bring additional scale, technology, investment potential and growth opportunities to SABIC. As part of the broader long-term strategy, there will be additional opportunities to capture value through growth projects optimization, joint venture management and one service delivery model, SABIC added.

 

Saudi Aramco completed the acquisition of a 70% stake in SABIC from the Public Investment Fund (PIF), for a total price of SAR 259.1 billion, Argaam reported.

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