MOSCOW (MRC) -- SABIC announced its fifth Sustainability Report, Enabling Tomorrow’s Solutions. The report is a summary of the successes SABIC achieved in many areas of its business in 2015 on the journey to a more sustainable future, said the producer in its press release.
SABIC has always brought enormous economic, social, and environmental benefit to the many countries where it operates all over the world. Wherever SABIC goes, it brings innovation, human development, and economic prosperity. SABIC strives to protect the environment and – through social programs and volunteering – contribute to healthy communities.
The Sustainability Report is a portrait of this invaluable work; it is a platform to communicate SABIC’s sustainability achievements and dedication to creating a better world.
Featuring prominently in this report is the CO2 purification and utilization plant at SABIC affiliate United in Jubail, which started operating in 2015. This ambitious project is designed to capture up to 500,000 tons of CO2 every year before purifying the gas and channeling it through a network to other SABIC affiliates to create valuable products, such as agricultural nutrients.
As the largest project of its kind in the world, the plant received considerable international attention for its innovation in emission reduction, material distribution through a manufacturing network, and operational efficiency. The project has become a beacon of sustainable development, an example of the business value of cross-site integration, and a showcase to the world of SABIC’s ambitions and capabilities as a global leader.
With achievements such as this, SABIC is setting new standards for sustainable development in the chemical industry.
As MRC informed earlier, SABIC reported a 13.2% drop in first-quarter net profit, extending a profit slump but beating analysts' forecasts. SABIC made a net profit of 3.41 billion riyals (USD909.4 million) in the three months to Mar. 31, down from 3.93 billion riyals in the year-earlier period
Saudi Basic Industries Corporation (SABIC) ranks among the worldпїЅs top petrochemical companies. The company is among the worldпїЅs market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
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