Company Profile

Yanbu National Petrochemical Company (Yansab) is a Saudi Joint Stock Company registered in the Kingdom of Saudi Arabia under Commercial Registration number 4700009432 dated 14 Muharram 1427H corresponding to 13 February 2006.

Yansab has obtained Industrial License number S/1367 dated 18 Rajab 1426H corresponding to 1 September 2005.

Yansab capital stake is Saudi Riyals 5,625 million of which 51% owned by Saudi Basic Industries Corporation (SABIC), 4% owned by Saudi Industrial Investment Company (an affiliate wholly owned by SABIC) for the benefits of SABIC employees under an option scheme, 10% of the equity owned by 17 private companies and the remaining 35% of the equity was offered to Saudi citizens under an initial public offering (IPO) that was closed on January 5th 2006. Yansab IPO was 2.8 over subscribed and nearly 50% of the Saudi population participated in the IPO.

Yansab first phase capital investment is Saudi Riyals 18,750 million. Financing of Yansab is structured based on 30% (SAR 5,625 million) equity and 70% (SAR 13,125 million) financing. The Financing deal was closed on June 18, 2006 with 19 local, regional and international banks participating along with 2 export credit agencies (ECA) and Public Investment Fund (PIF). The Financing deal of Yansab includes the biggest ever Islamic Financing in SABIC’s history for grass root integrated complex.

The objectives of Yansab are to engage in manufacturing of petrochemical products (ethylene, ethylene glycol, high density polyethylene, low linear density polyethylene, polypropylene, butene 1, butene 2, MTBE and BTX) in accordance with its Articles of Association, and other applicable regulations in the Kingdom. Yansab currently is in the pre-operation stage and has not yet started its operations but expected to come on stream in 2008.