Saudi Basic Industries Corporation (SABIC) announces that its subsidiary, Saudi Methanol Company "AR-RAZI", has received approval from the Ministry of Energy to allocate the required quantities of feedstock to build methanol production plant with a production capacity of 1.8 million tons per year.
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| Announcement Detail | Saudi Basic Industries Corporation (SABIC) would like to announce that its subsidiary, Saudi Methanol Company "AR-RAZI", has received approval from the Ministry of Energy on 21 Rabi' al-Awwal 1448 H corresponding to 3 September 2026 to allocate the required quantities of feedstock to build methanol production plant with a production capacity of 1.8 million tons per year located in Jubail. This project is in line with SABIC’s strategy which is designed to deliver sustainable long-term value by strengthening the fundamentals of its business model while positioning the company for future growth and focusing on its core business to maximize long-term shareholders’ value. SABIC will announce any material development related to this project including Final Investment Decision (FID). In this regard, SABIC expresses its sincere gratitude and appreciation to the Ministry of Energy for their continued efforts and support in enabling SABIC to be ranked among the world’s largest petrochemicals manufacturers and contribute to strengthening the kingdom’s position and advancing the development of national industries to support the objectives of Saudi Vision 2030. |
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