SABIC-SAFCO agri-nutrient merger aims to support industry: Al-Benyan

27/11/2018 Argaam

 

The deal between Saudi Basic Industries Corp (SABIC) and Saudi Arabia Fertilizers Co. (SAFCO) to merge their agri-nutrient production assets aims to support ammonia and urea production and achieve a competitive edge, SABIC vice chairman and CEO, Yousef Al-Benyan, told Sky News Arabia.

 

The move will allow the firm to benefit from reducing cost, utilize feedstock, and invest in technology in order to find innovative industry solutions, he said.

 

“The key added value will be achieved through the supply chain worldwide,” he added.

 

Meanwhile, SABIC has a packaging business which will be supporting the industry. “SABIC’s slogan says ‘less field for more yield’ as the company plans to optimize production,” Al-Benyan said.

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