April 19, 2014 7:23 PM ET

Chemicals

Company Overview of National Petrochemical Industrial Company

Company Overview

National Petrochemical Industrial Company, a petrochemicals company, produces a range of polypropylene product mix of homopolymers and random heterophasic copolymers. It offers homopolymers for BOPP, metalized, food and textile packaging, and water and quenched tubular films; solid phase thermoforming sheets, house wares, toys, small appliance parts, components for automotive industry, furniture, crates, closures, containers, bulk continuous filaments, continuous filaments, and staple fibers; raffia, injection molding, extrusion, and carpet and upholstery applications; and packaging for hosiery, shirts, other textiles, and shopping bags. The company provides random heterophasic copolymers fo...

Andalus Road

Future Commercial Center

Jeddah,  

Saudi Arabia

Founded in 1999

Phone:

966 2 6048600

Fax:

966 2 6529379

Key Executives for National Petrochemical Industrial Company

President and Chief Operating Officer
Vice President of HR & Corporate Affairs
Financial Controller
Vice President of Operations & Maintenance
Vice President of Marketing & Sales
Compensation as of Fiscal Year 2013.

National Petrochemical Industrial Company Key Developments

National Petrochemical Industrial Company Announces Temporary Shutdown of its PP Complex

Alujain announced that in line with the normal industrial practice, its subsidiary National Petrochemical Industrial Company (NATPET) Propylene & Polypropylene Complex in Yanbu Industrial City will be shut down for a period of approximately Twenty Two days starting January 27, 2013 for a full turnaround procedure (major maintenance), as well as for implementing the production and equipment enhancement. This would mean an estimated loss of production of 24,000 tons with its corresponding market value prevailing at that time estimated to be SAR 125 Million and this would be reflected in the 1st quarter 2013 financials.

National Petrochemical Industrial Company Signs Agreement to Secure $20 Million Revolving Credit from the Saudi Fund for Development

Alujain Corporation announced that its unit National Petrochemical Industrial Company or NatPet has signed an agreement to secure a $20 million (Dh73.5 million) revolving credit facility from the Saudi Fund for Development. The three-year facility is part of the Saudi Export Programme and aims to support Natpet’s exports. Natpet has provided a corporate guarantee against the facility. Alujain, which invests in petrochemicals and industrial projects, holds a 57.4% stake in NatPet that manufactures propylene and polypropylene.

A. Schulman Announces Joint Venture with National Petrochemical Industrial Company to Produce Polypropylene Compounds In Saudi Arabia

A. Schulman, Inc. announced that it has entered into a joint venture agreement with National Petrochemical Industrial Company (NATPET) of Jeddah. The 50-50 joint venture, expected to be named NATPET-Schulman Engineering Plastic Compounds, will produce and globally sell polypropylene compounds. The joint venture is planning to build a polypropylene compounding plant in Yanbu, KSA, where it expects to begin production by the end of calendar-year 2014. A. Schulman's initial equity investment in the relationship is approximately EUR 11 million, or approximately $14 million. Initial project costs, including construction of the facility, infrastructure needs as well as working capital requirements are approximately EUR 55 million, or approximately $70 million based on current exchange rates. Beyond the initial equity investment by the partners, the joint venture intends to take advantage of various low-interest loan options provided by the Saudi Industrial Development Fund and other lending institutions. The joint venture will manufacture a line of customer-preferred engineered plastic compounds based on A. Schulman's highly regarded technology. NATPET, a well-established petrochemical producer in the region, will provide the joint venture with its regional infrastructure as well as its high-quality polypropylene resin. The joint venture's new plant will enable A. Schulman and NATPET to serve a broad range of customers in the Middle East, Africa and India to capitalize on the growing demand for durable goods and transportation products. All sales outside of these regions will be sold directly through A. Schulman. In addition to the joint agreement, NATPET also agreed to enter into a distribution agreement, where A. Schulman will, effective immediately, distribute polypropylene resins for NATPET in Europe to specified customer segments.

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