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Home » News » Shell Completes Sadaf Chemicals Sale in Saudi Arabia to SABIC for $820mn
17.08.2017

Shell Completes Sadaf Chemicals Sale in Saudi Arabia to SABIC for $820mn

Shell Completes Sadaf Chemicals Sale in Saudi Arabia to SABIC for $820mn

Shell has completed the sale of its 50% share in Sadaf, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million. This sale was announced on 22 January 2017. Completion follows anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia.

This acquisition will enable SABIC to optimise operations at SADAF and further invest in the facilities, integrating them with SABIC’s other affiliates. This step will allow Shell to focus its downstream activities and make selective investments to support the growth of its global chemicals business. Completion of this deal shows the clear momentum behind Shell’s global, value-driven $30bn divestment programme.

This deal does not impact Shell’s other interests in the Kingdom of Saudi Arabia.

Sadaf was founded on 27th June 1980 as a Joint Venture between Saudi Basic Industries Corporation and Pecten Arabian Company Ltd., a subsidiary of Shell Oil Company (US). The Sadaf complex, which is covering a 460-acre site in the Industrial City of Jubail, contains six-world scale petrochemical plants with a total average output of more than 4 million metric tons per year of various chemicals: Ethylene, styrene, ethanol, di ethyl chloride / caustic, methyl tertiary butyl ether etc.

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