SABIC participated as a sponsor in the 84th International Fertilizer Association (IFA) conference in Moscow from May 30 to June 1, and engaged with the global farming industry to convey the company’s transformation strategy aimed at becoming a complete Agri-Nutrient organization.
During networking engagements at the conference, SABIC highlighted its renewed focus on innovative compounds to help improve yields and create nutrients that are more targeted and effective, while at the same time reducing impacts on the environment.
In comments before the conference, Khaled Al-Mana, executive vice president, agri-nutrients, who led the SABIC delegation, said, “We have recently changed the name of our Fertilizers Strategic Business Unit to Agri-Nutrients. We did not make this change for the sake of having a better name, but to emphasize that we are expanding with a strong portfolio of ‘specialty nutrients’ designed specifically to meet the particular needs of farmers and food producers across the regions.
Al-Mana said that the world population is estimated to reach 9 billion by 2050, with most growth happening in developing countries. To feed the world, more and different fertilizers are required to increase crop yields and improve soil quality when at the same time less arable land will be available.
SABIC’s new agri-nutrients strategy aims at bringing SABIC closer to farmers, understanding their needs and positioning itself as a reliable partner for sustainable solutions to the agri-industry.
“We have a strong nutrient base and we will continue to improve our basic nutrients position in Nitrogen and Phosphate. In addition, we will broaden our product portfolio with attractive basic nutrients,” Al-Mana said.
As a first step in SABIC’s strategy of developing a portfolio of ‘specialty nutrients’, the company recently launched a new fertilizer grade in Saudi Arabia designed specifically for the date palm. This compound fertilizer helps to improve quality and yield of crops by up to 20 percent.
The IFA conference is restricted to association members. SABIC has been an active member of the association for many years.
SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals. It supports its customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.
SABIC recorded a net profit of SR18.77 billion ($5 billion) in 2015. Sales revenues for 2015 totaled SR148.09 billion ($39.49 billion). Total assets stood at SR328.22 billion ($87.53 billion) at the end of 2015.
SABIC has more than 40,000 employees worldwide and operates in more than 50 countries. Fostering innovation and a spirit of ingenuity, we have 10,960 global patent filings, and have significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South East Asia and North East Asia.
The Saudi Arabian government owns 70 percent of SABIC shares with the remaining 30 percent publicly traded on the Saudi stock exchange.
