Saudi chemicals firm weighs listing for industrial gas operation | Finance
Saudi Arabia chemicals company Saudi Basic Industries Corp (SABIC) is evaluating an initial public offering (IPO) of its industrial gas unit, National Industrial Gases Company (NIGC). The move comes amid restructuring as SABIC focuses on its core petrochemicals business, and would reposition NIGC for the energy transition. SABIC’s global gases portfolio encompasses hydrogen, liquid argon, liquid carbon dioxide, nitrogen and oxygen. Operationally, it runs more than 60 sites across 43 countries. An IPO could fund decarbonisation projects such as Saudi Arabia’s 4 million MT carbon capture hub which aims to open in 2030. © SABIC As part of its low-carbon proposition, it has incorporated captured CO2 as a feedstock under the ISCC carbon footprint certification scheme and opened the world’s first large-scale demonstration plant for an electrically heated steam-cracking furnace at chemicals giant BASF’s Ludwigshafen… Read More »Saudi chemicals firm weighs listing for industrial gas operation | Finance