Advanced Petrochemical Company is a Saudi joint-stock company listed on the Saudi Stock Exchange 'Saudi Tadawul'. It was established on October 1, 2005, and is headquartered in al-Jubayl City, Eastern Province.
It was listed on Saudi Tadawul on January 20, 2007. Its shares are traded on the main market within the Basic Materials sector under the name "Advanced" with the symbol (2330) and International Securities Identification Number (ISIN) (SA000A0LE310). The company's capital is SAR2.6 billion, as of the update on March 21, 2022.
It owns 100 percent of three Saudi companies within the industrial projects investment sector, including projects related to basic and downstream petrochemical and chemical industries both inside and outside the Kingdom. These companies are involved in the production of polysilicon and its derivatives, including photovoltaic cells and panels, and in the investment, production, and marketing of petrochemical and chemical products.
Establishment of the Advanced Petrochemical Company
Advanced Petrochemical Company was established as a closed joint-stock company in the Kingdom on October 1, 2005, with a capital of SAR750 million. The company increased its capital by issuing new shares, raising it to SAR1.41 billion. In 2012, the Board of Directors recommended increasing the capital again to SAR1.639 billion. In 2016, the capital was raised once more to SAR1.967 billion. In 2019, following a recommendation from the Board of Directors and the approval of the General Assembly, the capital was increased to SAR2.164 billion. Finally, in 2022, the Board of Directors recommended, with the approval of the General Assembly, to increase the company's capital to SAR2.6 billion.
Activity of the Advanced Petrochemical Company
The primary activity of Advanced Petrochemical Company is the production of propylene with an annual production capacity of 455,000 t using CATOFIN technology. This propylene is used as feedstock for the polypropylene plant, which has an annual production capacity of 450,000 t using NOVOLEN technology. The product is marketed locally, regionally, and globally through local and international marketers using advanced packaging methods. A significant portion of the produced polypropylene is used in plastic applications such as cast films, biaxially oriented polypropylene (BOPP) films, fibers, polypropylene yarns, woven tapes, non-woven fabrics, and injection molding.
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