The company was established as a joint stock company according to kingdom regulations with commercial record number (1010246363) dated 08 RABIA’ 1429H corresponding to (16/03/2008). Its Headquarter in the city of Riyadh, with a paid in capital of 4,800 Million Saudi Riyals. The Company (Petrochem) activity is based on development and establishment, operation and management and maintenance of petrochemical factories, gas, petroleum and other industries, wholesale and retail trade in material and petrochemical products and its derivatives. Currently, Petrochem activity covers investing in its subsidiaries, Saudi Polymers Company (owned 65% by Petrochem), which produces petrochemical products, and Gulf Polymers Distribution Company (owned 65% by Petrochem), which distributes Saudi Polymers Company products.
Saudi Polymers, aims to convert natural gas to materials of high value through investment in the petrochemical industry and this would enable Saudi Polymers of economic diversification by developing derivative petrochemical products that rely on natural gas, and increase local employment, increasing public and private Saudi investments in petrochemical industry.