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Saudi Kayan Petrochemical Company (2350) – Introduction and background |
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Saudi Kayan Petrochemical Company is a global petrochemicals company.
Established in 2009 and headquartered in Jubail Industrial City, Saudi Kayan operates one of the largest petrochemical complexes in the world. The company produces a wide range of chemicals and polymers, including ethylene, propylene, polyethylene, ethylene glycol, polypropylene, and speciality chemicals like polycarbonate and bisphenol-A. These products serve clients in the automotive, construction, packaging, and textile industries, catering to both domestic and international markets. Most of their products are chemicals (especially ethylene and benzene) used as feed stock for subsequent chemical processing and manufacture.
Since its 2011 IPO, Saudi Kayan Petrochemical Company trades on Tadawul under the ticker 2350. The Saudi Arabia Basic Industries Corporation (SABIC) owns 65% of shares, and Saudi Aramco in turn controls 70% of shares. Since Saudi Aramco is majority state-owned, that makes Saudi Kayan an indirectly state-controlled enterprise.
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