Saudi Basic Industries Corp. — Capital/Financing Update 2022

Jan 20, 2022

Saudi Basic Industries Corporation (SABIC) announces the latest developments of establishing a petrochemical joint venture project with ExxonMobil in the U.S. Gulf Coast

2010 · 20/01/2022 15:28:05 · Announcement #66395 · View on Saudi Exchange

Saudi Basic Industries Corporation (SABIC) announces the latest developments of establishing a petrochemical joint venture project with ExxonMobil in the U.S. Gulf Coast

Element List	Explanation
Introduction	Referring to the announcement made by Saudi Basic Industries Corporation (SABIC) on 19 September 2021.

SABIC would like to announce the start of commercial operation of the joint venture project with Exxon Mobil in the U.S. Gulf Coast. The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tons, which will feed two polyethylene units with annual capacity of about 1.3 million tons and a monoethylene glycol unit with annual capacity of about 1.1 million tons.

The financial impact is expected to contribute to the company financial results from the first quarter of 2022.

This project supports SABIC’s global growth strategy, diversifying its feedstock sources and strengthening its petrochemical manufacturing presence in North America for a wide range of products. Previous Announcement Saudi Basic Industries Corporation (SABIC) announces the latest developments of establishing a petrochemical joint venture project with ExxonMobil in the U.S. Gulf Coast Date of Previous Announcement on Tadawul's Website 2021-09-19 Corresponding to 1443-02-12 Percentage of fulfilled achievement %100 Event's Expected Completion Date NA Reasons for Exceeding the Announced End Date NA The costs associated with the event, and if they have changed or not with indication of the reasons. No material change in expenses related to the event Impact of the Delay on the Company's Financial Results NA

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