SearchOur History
SABIC has become an industry leader through establishing strong foundations, global growth, and innovative transformation.
Foundation and establishment
The 1970s
1976 – SABIC established by royal decree to convert waste natural gas to valuable chemicals
1979 – Hadeed founded to supply metal products under the SABIC brand
The 1980s
1980 – Ar-Razi formed as a single-commodity affiliate in the first step to becoming a global player in methanol
1980 – Joint ventures established with Shell and ExxonMobil, respectively
1981 – Joint venture established with Mitsubishi
1983 – First products exported out of Saudi Arabia
1984 – First shares listed publicly on the Saudi Stock Exchange
Readiness for
growth
The 1990s
1990 – National shipping company, National Chemical Carriers (NCC), formed
1992 – Four affiliates become the first companies in the Middle East to receive ISO 9002 certification
1994 – SABIC Technology Center Riyadh established
1996 – SABIC becomes the Middle East's largest joint stock company with sales revenues exceeding SAR 19 Bn. (US$ 5.1 Bn.)
1997 – SABIC's share of the world petrochemical market estimated at 5%
GLOBALIZATION
The 2000s
2000 – SABIC's product sales span over 100 countries
2001 – Jubail United Petrochemical Company established
2002 – New SABIC global headquarters building opens in Riyadh
2002 – Acquisition of DSM Petrochemicals
2004 – SABIC share value increases 170% from 2003 to 2004
2005 – Yansab established by royal decree
2005 – SABIC becomes the world's 11th-largest petrochemical company and is ranked 331 on the Fortune Global 500
2006 – Acquisition of Huntsman Petrochemicals UK
2007 – Acquisition of GE Plastics
2009 – Joint venture with SINOPEC established in China
TRANSFORMATION AND INNOVATION
The 2010s & 2020s
2011 – First public environmental targets established; first sustainability report published
2012 – SABIC Academy inaugurated
2014 – Joint venture established with SK chemicals in South Korea
2016 – Home of Innovation™ inaugurated
2017 – Joint venture with ExxonMobil, Gulf Coast Growth Ventures, established
2018 – Acquisition of 24.99% stake in Clariant AG
2019 – TRUCIRCLE™ launched
2020 – Saudi Aramco acquires a 70% stake in SABIC
2020 – SAFCO becomes SABIC Agri-Nutrients Company
2020 – Collaboration with Saudi Aramco on the world's first shipment of low-carbon ammonia
2021 – Aspiration for all operations to become carbon neutral by 2050 announced
2021 – New corporate building in Jubail inaugurated
2022 – New electrification initiative, BLUEHERO™, launched
2022 – Acquired full ownership of Scientific Design
2023 – Final transformers installed at demonstration plant for world's first electrically-heated steam cracker furnace (Ludwigshafen, Germany, with BASF and Linde)
2023 – Divestment of Hadeed, 44 years since its establishment, as part of strategic portfolio optimization
2024 – Divestment of Functional Forms
2024 – New SABIC transformation program launched
2024 – Divestment of Aluminium Bahrain B.S.C. (Alba) stake
Disclaimer: This abridged interactive version of the SABIC Integrated Annual Report 2024 is based on the original PDF report published on this website. In case of any discrepancy, the original PDF report will prevail.