SABIC in the context of "Jubail"

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⭐ Core Definition: SABIC

Saudi Basic Industries Corporation (Arabic: الشركة السعودية للصناعات الأساسية), known as SABIC (Arabic: سابك), is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco. It is active in petrochemicals, chemicals, industrial polymers and fertilizers. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul.

In 2017, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500. By the end of 2018 SABIC was the world's 281st-largest corporation. In 2014, the company had sales revenues of $50.4 billion, profits of $6.7 billion and assets standing at $90.4 billion. It also has been recognized as the world's second most valuable brand in the chemicals industry by Brand Finance in 2021.

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👉 SABIC in the context of Jubail

Jubail (Arabic: الجبيل, Al Jubayl) is a city in the Eastern province on the Persian Gulf of Saudi Arabia, with a total population of 474,679 as of 2022. It is home to one of the largest industrial cities in the world. It is also home to the Middle East's largest and world's fourth largest petrochemical company SABIC. It has the world's largest IWPP (Independent Water and Power Project) producing 2743.6 MW of electricity and 800,000 m of water daily.

Jubail comprises the Old Town of Al Jubail (Jubail Balad), which was a small fishing village until 1975, and the Industrial Area. Jubail Industrial City is the largest civil engineering project in the world today. In 1975, the Saudi government designated Jubail as the site for a new industrial city, with rapid expansion and industrialization arising. The new industrial and residential areas were named Madīnat al Jubayl aṣ Ṣinā`īyah (Jubail Industrial City). The 2005 Census Report for Jubail Industrial City estimates the population at 224,430 residents.

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