Saudi International Petrochemical Company (Sipchem) is a Saudi joint stock company owned jointly by private sector investors of Saudi Arabia and GCC countries. It is also known as Sahara International Petrochemical Company. The company is the subsidiary of Zamil Group Holding. It was incorporated on 22 December 1999 with a paid-in capital of SR 500 million. The share capital was initially increased in 2003 by issuing 3 million shares, thereby raising the capital to SR 650 million. Subsequently, in April 2005 the share capital was further raised for the second time by SR 850 million, resulting in a total share capital of SR 1,500 billion.
Sipchem has chosen Jubail Industrial City to build its industrial complex for producing various chemicals because this city is considered one of the leading industrial areas in the world, having all necessary infrastructure for such large projects. The availability of raw materials in the Eastern province, the presence of Saudi Aramco that supplies required feedstocks at very competitive prices and in large quantities, the ease of export from the city via KFIP and its relative proximity to South Eastern Asian countries to which most petrochemicals are exported, are other reasons for this choice.
Sipchem was founded in late 1999 as a Saudi closed joint stock company with the objective of becoming a major petrochemical manufacturer, providing high quality basic and intermediate petrochemical products for world markets. Sipchem itself acts as holding company for several Subsidiaries. Sipchem founders include respected private sector investors (both individuals and Companies) from Saudi Arabia and GCC countries. Sipchem was founded in late 1999 as a Saudi closed joint stock company with the objective of becoming a major petrochemical manufacturer, providing high quality basic and intermediate petrochemical products for world markets. Sipchem itself acts as holding company for several Subsidiaries. Sipchem founders include respected private sector investors (both individuals and Companies) from Saudi Arabia and GCC countries. Sipchem, by delivering value added and export oriented products, plays a meaningful role in harnessing Saudi Arabia vast oil and hydrocarbon natural resources
Company History
Sipchem actively invests in petrochemical, chemical and hydrocarbon industries, both basic and intermediary, to produce chemicals used to manufacture a multitude of products that improve the lives of people worldwide. Sipchem develops strategic alliances with carefully selected international partners to optimize its technology and marketing positions
Company Bylaws
Equity Profile
- Authorized Capital (^)7,333,333,320
- Issued Shares733,333,332
- Paid Capital (^)7,333,333,320
- Par Value/Share10
- Paid Up Value/Share10
Last Update :2019-05-21
Investment limits
There are no investment limits on the company’s shares as per the amended Rules for Qualified Foreign Financial Institutions Investment in Listed Securities and Instructions for the Foreign Strategic Investors Ownership in Listed Companies based on company’s bylaw and the issued instructions by the related regulators and supervisory authorities
- Company Details
- BOARD OF DIRECTORS AND SENIOR EXECUTIVES INFORMATION
- Date Established1999/12/22
- Financial Year End31/12
- Listing Date2006/09/09
- External Auditors[PricewaterhouseCoopers Public Accountants (PWC)]
- ISIN CODESA000A0KFKK0
- Number of Employees1636
Investor Relations
Contact Name:
Shareholders Affairs
Company Address:
HQ, Khobar, 31952, PO Box 130
Contact Details:
Telephone: 0138019396 – 0133567148
Fax : 0133599610
Email : [email protected]
Company Website:
| Name Of Subsidiary | Percentage Of Property | Main Business | Location Of Operation | Country Of Operation |
|---|---|---|---|---|
| International Methanol Company | 65.00% | The principal activity of IMC is the manufacturing and sale of methanol. | Jubail Industrial City | Kingdom of Saudi Arabia |
| International Diol Company | 100.00% | The principal activity of IDC is the manufacturing and sale of maleic anhydride, butane diol and tetra hydro furan. | Jubail Industrial City | Kingdom of Saudi Arabia |
| International Acetyl Company | 100.00% | The principal activity of IAC is the manufacturing of Acetic Acid (AA) and Acetic Anhidride (AAnh). | Jubail Industrial City | Kingdom of Saudi Arabia |
| International Vinyl Acetate Company | 100.00% | The principal activity of IVC is manufacturing the Vinyl Acetate Monomer (VAM), a clear and colorless liquid that readily evaporates into air and dissolves in water | Jubail Industrial City | Kingdom of Saudi Arabia |
| International Gases Company | 100.00% | The principal activity of IGC is the manufacturing and sale of carbon monoxide. | Jubail Industrial City | Kingdom of Saudi Arabia |
| International Polymers Company | 75.00% | The principal activity of IPC is to manufacture and sell low-density polyethylene (LDPE), polyvinyl acetate (PVAC) and polyvinyl alcohol (PVA). | Jubail Industrial City | Kingdom of Saudi Arabia |
| Sipchem Marketing Company | 100.00% | The principal activities of SMC and its subsidiary Sipchem Europe Cooperative U.A are to provide marketing services for the products manufactured by the group companies and other petrochemical products. Other services provided by Sipchem, SMC and SMC’s affiliates include purchasing and trading of petrochemical products with Sipchem affiliates and third party entities. | Khobar City | Kingdom of Saudi Arabia |
| Sipchem Chemicals Company | 100.00% | The principal activity of SCC is the manufacture and sale of ethyl acetate, butyl acetate and polybutylene terephthalate. | Jubail Industrial City | Kingdom of Saudi Arabia |
| Gulf Advanced Cable Insulation Company | 50.00% | The principal activity of GACI is the manufacture and sale of cross linked polyethylene and electrical connecting wire products. GACI commenced its commercial operations from 1 June 2015 after the successful commissioning, testing and completion of acceptance formalities with the main contractors. | Jubail Industrial City | Kingdom of Saudi Arabia |
| Saudi Specialized Products Company | 100.00% | The principal activities of SSPC is the production of Ethylene-Vinyl Acetate (EVA) films. | Hail | Kingdom of Saudi Arabia |
| International Utility Company | 68.58% | The principal activity of IUC is to provide industrial utilities to the group companies. | Jubail Industrial City | Kingdom of Saudi Arabia |
| Sipchem Europe Cooperative U.A and its subsidiaries | 100.00% | The principal activity of Sipchem Europe is to provide marketing services for the products manufactured by the group companies and other petrochemical products. | Amsterdam | Netherlands |
| Sipchem Asia PTE Ltd. | 100.00% | The principal activity of Sipchem Asia is to provide marketing services for the products manufactured by the group companies and other petrochemical products. | Singapore | Singapore |
| Sahara Petrochemical Company | 100.00% | The principal activity of Sahara Petrochemical Company is to develop, build various operation companies in petrochemicals industries especially Propylene, Polypropylene, Ethylene and mixed polyethylene industries. | Jubail Industrial City | Kingdom of Saudi Arabia |
| Linde Sipchem Industrial Gases | 50.00% | Production of Primary gases, Production of mixed industrial gases, Production of ammonia, Transport of other gases and liquids via pipelines | Jubail Industrial City | Kingdom of Saudi Arabia |
| Saudi Advanced Technologies Company (Wahaj) | 100.00% | metal formation by hammering, pistons, casting, rolling, making structures for motor vehicles, making parts, accessories and engines for motor vehicles | Riyadh | Kingdom of Saudi Arabia |
