SABIC’s Fujian complex on track for Q4 startup, says CEO
- SABIC's Fujian petrochemical complex is expected to start operations in Q4 2026 after successful trial runs of three plants.
- The company aims for a $3 billion improvement in recurring annual EBITDA by 2030, having achieved $950 million year to date.
- SABIC reported an adjusted net income of $224.3 million for Q3, a significant recovery from a net loss of $101.4 million in the previous quarter.
- The company plans to invest $3.5 billion in a new plant in Jubail, boosting urea capacity by 54%, with operations starting in Q4 2030.
- SABIC's transformation program focuses on cost efficiencies and value creation, with nearly one-third of its target reached within the first nine months of 2026.
- Recent portfolio optimization actions have generated $2.3 billion in cash, including sales of underperforming businesses with significant operating losses.
