The Saudi Kayan Petrochemical Company, specializing in chemical and petrochemical production, is the outcome of a partnership agreement between SABICSABIC and Al Kayan Petrochemical CompanyAl Kayan Petrochemical Company.

The company was established in 2005 with a paid-up capital of SAR12 billion (USD3.2 billion). It won the approval from the Capital Markets Authority to list 45% of its capital amounting to SAR6.75 billion (USD1.8 billion) in an initial public offering on the Saudi Stock Exchange (Tadawul)Saudi Stock Exchange (Tadawul), in April 2007.

The chief aim behind the public offering is to finance the SAR37.5 billion (USD10 billion) Saudi Kayan industrial complex, to be located at Jubail Industrial City. The complex, expected to begin full commercial operations by the third quarter of 2010 is designed with a capacity to produce up to 4 million tons of chemical and petrochemical products per year, and will introduce specialized chemicals to be manufactured in the country for the first time. These include: aminoethanols, aminomethyls, dimethylformamide, choline chloride, dimethylethanol, dimethylethanolamine, ethoxylates, phenol, bisphenol-a, cumene and polycarbonate. The company will also produce existing products such as ethylene, propylene, polypropylene, ethylene glycol, butene-1, and others.

The complex is divided into multiple units, most of which are expected to be ready by the end of 2009. They include an amines unit, ethane/butane catalytic cracking unit including benzene extraction facilities, a polyethylene plant, a polypropylene plant, an ethylene glycol unit, an integrated phenolics plant, and a polycarbonates plant.

Saudi Kayan also plans to establish an applications center focusing on development of industrial products and applications, especially polycarbonate research and other new added value downstream industries in Saudi Arabia.