SABIC Signs MoU For Renewable Energy Projects


Saudi Energy Ministry and Saudi Basic Industries Corporation (SABIC) sign MoU to develop renewable energy projects in the kingdom.

The CEO of SABIC Yousef Al-Benyan said that this will enable to achieve net-zero emissions of the company by 2060. The company plans to expand its manufacturing by investing in renewable energy and reducing greenhouse gases.

SABIC is a public company based in Riyadh, Saudi Arabia. 70% of the company’s shares are owned by Saudi Aramco, with the remaining 30% publicly traded on the Saudi stock exchange. 

These all initiatives are a part of the Saudi Green Initiative of the company. Under Circular Carbon Economy, reducing carbon emissions is focused while pursuing economic strategies.

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