AlFaqeeh: “SABIC” maintained its sales volume during Q2 ‎despite economic conditions

Abdulrahman Al-Faqeeh, CEO of the Saudi Basic Industries Corporation (SABIC), said that “SABIC” maintained during the second quarter its sales volume despite the difficult economic conditions that the business environment is exposed to, in addition to the increase in the supply of its main products, indicating that the margin Our EBITDA improved to 14% in the second quarter of 2023 compared to 13% achieved in the last quarter, and we achieved the minimum target for our collaboration with Saudi Aramco two years ahead of schedule through Reaching $1.51 billion on a cumulative basis

Al-Faqeeh added, “SABIC is committed to innovation and sustainability as two fundamental pillars of our growth. In confirmation of this, we completed this quarter a project to convert oil from plastic waste into certified circular polymers in the Kingdom of Saudi Arabia, making SABIC the first company in the Middle East and North Africa region to adhere to this approach. We have also successfully completed the first certified commercial shipments of low-carbon ammonia to India and Taiwan, which underscores our determination to provide value-added solutions to our customers and support markets with important solutions that contribute to achieving net-zero emissions such as low-carbon ammonia.”