National Industrialization Company (Tasnee) was established in June 1985 as the first Saudi joint stock company wholly owned by the private sector. Since then, Tasnee expanded its portfolio to include more than 25 subsidiaries and investments in 2006. Through its subsidiaries, Tasnee operations include chemicals, plastics, engineering, industrial and others.

In mid-2006, Tasnee and Tasnee Petrochemicals approved the merger and decided to increase the Paid-up capital to SAR2.3 billion (USD620 million). After the first merger took place, Tasnee merged two of its subsidiaries, namely the Arabian Axles Foundries and Spare Parts Company and the National Metal Manufacturing and Casting Company (Maadaniah)National Metal Manufacturing and Casting Company (Maadaniah), to strengthen their industrial position and achieve better returns for its shareholders.

In 2001, Tasnee established its first petrochemical complex, Saudi Polyolefins CompanySaudi Polyolefins Company as a joint venture with Basell, the world's largest producer of Polypropylene and Europe's largest producer of Polyethylene. Saudi Polyolefins CompanySaudi Polyolefins Company was established in Al Jubail Industrial city for the production of Propylene and Polypropylene and started production in 2004 with a capacity to produce 450,000 t/y of Propylene and 450,000 t/y of Polypropylene.

Tasnee established its second complex in 2006, Tasnee and Sahara Olefins CompanyTasnee and Sahara Olefins Company, as a joint venture with Sahara Petrochemical CompanySahara Petrochemical Company, for the production of Propylene, Ethylene and Polyethylene. Tasnee and Sahara Olefins CompanyTasnee and Sahara Olefins Company will produce through Saudi Ethylene and Polyethylene CompanySaudi Ethylene and Polyethylene Company with capacity to produce 1mn t/y of Ethylene, 285,000 t/y of Propylene, 800,000 t/y of high and low density Polyethylene. Production will start in the second half of 2008 at an estimated cost of the plant SAR9.5 billion.

With the Kingdom of Saudi Arabia now part of the World Trade Organization, Tasnee plans to expand and market its products internationally.