1997 News Story

SABIC achievements

Industry and Electricity Minister Dr. Hashim Yamani praised the performance of the Saudi Basic Industries Corporation (SABIC) over the past year.  In an address at a meeting of SABIC’s Board of Directors in Riyadh, Dr. Yamani, who is also Chairman of SABIC’s Board, drew attention to the considerable achievements realized by the Corporation in helping to increase Saudi Arabia’ GDP.  He noted the positive effect which SABIC and its affiliate companies have had on both the building and agricultural sectors whilst spearheading technology transfer to the Kingdom.  He pointed out SABIC’s success in the Saudization process, saying that SABIC could be proud of its overall Saudization record of 70 per cent, a strong indication of the Corporation’s determination to expand opportunities for employment for Saudi citizens.  Dr. Hamani also reviewed the plans and budgets for the coming year, noting that a new phase of expansion projects, already well underway, would make it possible for the Corporation to achieve its stated production goal of l28 million tons by the turn of the century.