SABIC delivers operational resilience despite geopolitical, market headwinds: CEO

Faisal Alfaqeer, CEO Saudi Basic Industries Corp. (SABIC)

Saudi Basic Industries Corp. (SABIC) CEO Faisal Alfaqeer highlighted the exceptional operating resilience achieved in Q3 2026 despite the regional geopolitical headwinds and market challenges.

Commenting on SABIC’s latest financial results, Alfaqeer said this positive performance owes to a clear, robust forward-looking vision, with continued focus on its core strategic objectives of business portfolio optimization, transformation, and selective growth, which seek to support long-term profitability and enhance shareholder value.

He said a key milestone achieved during Q3 2026 was SABIC Agri-Nutrients Co.’s (SABIC AN) final investment decision to build a new industrial complex in Saudi Arabia for ammonia and urea production.

The new facility should deliver an annual production capacity of 1.2 million metric tons of ammonia and 2.6 million metric tons of urea, increasing the company’s urea production capacity by 54% compared with current levels.

Alfaqeer also noted that the Ministry of Energy approved the allocation of the necessary feedstock supplies for a new methanol plant in Jubail, featuring an annual production capacity of 1.8 million metric tons. The project will advance the company’s growth plans in strategic, profitable markets.

As part of its transformation program, SABIC has achieved SAR 3.56 billion ($950 million) to date out of the targeted SAR 11.3 billion ($3 billion) by 2030, delivering a positive and sustainable impact on earnings before interest, taxes, depreciation, and amortization (EBITDA).

According to Argaam data, SABIC narrowed its net loss to SAR 320 million in the first nine months of 2026, from SAR 4.84 billion in the same period of 2025. In Q3 of this year, its bottomline reached SAR 499 million.