Sabic to raise chemicals output capacity 70% by 2025, says Al Benyan

Saudi Basic Industries Corp. (SABIC) plans to boost production capacity 70 percent by 2025, CEO Yousef Al Benyan told Bloomberg in an interview.

Increasing chemical production is crucial to implementing Saudi Arabia’s Vision 2030, he said.

As for hiking stake in Swiss chemical maker Clariant AG, Al Benyan said that it’s premature to comment on whether Sabic might increase its stake until regulators approve the transaction, likely in the third quarter.

Sabic in January acquired a 24.9 percent stake in Clariant AG, Argaam previously reported.