Saudi Arabia’s SABIC launches logistics supply project

13 November 2013 15:03  [Source: ICIS news]

DUBAI (ICIS)--Petrochemical giant Saudi Basic Industries Corporation (SABIC) has launched a logistics supply project in a joint venture with Saudi Ports Authority, according to a company statement on Wednesday.

The project - called EMDAD - will boost the company’s future expansion and polymer supply chain, the Ports Authority said.

EMDAD will facilitate transporting 4.1m tonnes/year of factory products to Jubail commercial port. The project focuses on exporting the products of SABIC and its contracted companies to overseas markets.

SABIC, which makes petrochemicals, metals and fertilisers, last month said it sales in the third quarter rose 9% year on year to Saudi Riyals (SR) 48.8bn ($13bn),  while sales from the first nine months of 2013 remained at SR140bn riyals.

($1 = SR3.75)

By: Aamir Ashraf

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