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    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION

(2010)
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Saudi Basic Industries : SABIC Collaborates With Indian Oil Corporation Limited To Reduce Emissions From Diesel Engines

09/09/2021 | 07:52am EDT

SABIC, a global leader in diversified chemicals, in collaboration with India's leading oil marketing company, Indian Oil Corporation Limited (IOCL) will provide Technical Grade Urea (TGU) to manufacture AUS-32 (Aqueous Urea Solution) used in diesel vehicular systems to reduce NO2 emission by over 70% to meet the stringent norms of Bharat Stage VI vehicles.

The collaboration supports the Indian automobile industry in reducing greenhouse gas emissions to meet the Bharat Stage VI (BS-VI) standards, which regulates vehicular emissions in India.

Superior quality and high purity of TGU made by SABIC can help oil marketing companies deliver fine quality solutions to their customers without compromising on the diesel exhaust fluid quality.

Talking about the collaboration, Janardhanan Ramanujalu, Vice President & Regional Head, SABIC South Asia & ANZ, said, 'Bharat Stage emission norms moved from BS IV to BS VI which threw up many challenges for the automotive industry. Our high quality solution fits perfectly in meeting the emission norms in collaboration with the oil industry. We take pride in collaborating with IOCL and considering it a major step towards keeping India at par with the rest of the world regarding vehicular emissions.'

Sanjay Singh, Head, Agri Nutrients India Business, SABIC, said, 'As part of our commitment towards sustainability, SABIC has invested in Saudi Arabia-based facilities to produce high-quality TGU meeting the global benchmark for reducing vehicular emissions. The arrangement with IOCL will support a sustainable transition to and compliance with BS-VI standards for all diesel vehicles, reducing air pollution and helping meet the larger climate goals.'

SABIC also supplies TGU to other leading manufacturers of AUS-32 in India to support the Indian automobile industry in meeting BS-VI standards. As per the BS-VI standards, all heavy diesel vehicles with 2000 cc engine capacity or more will require a Selective Catalytic Reduction (SCR) converter to use AUS-32 solutions by reducing nitrogen oxide emission by more than 70%.

SABIC's collaboration, especially with IOCL, will make the AUS-32 solutions readily available in the market and can be refilled by heavy diesel vehicles on the go and is a viable process.

Disclaimer

SABIC - Saudi Basic Industries Corporation SJSC published this content on 08 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 11:51:08 UTC.


ę Publicnow 2021
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Financials
Sales 2021 161 B 42 836 M 42 836 M
Net income 2021 21 117 M 5 630 M 5 630 M
Net cash 2021 3 207 M 855 M 855 M
P/E ratio 2021 18,8x
Yield 2021 2,62%
Capitalization 406 B 108 B 108 B
EV / Sales 2021 2,50x
EV / Sales 2022 2,48x
Nbr of Employees 35 000
Free-Float 22,4%
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Saudi Basic Industries Corporation Technical Analysis Chart | 2010 | SA0007879121 | MarketScreener
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TrendsBullishBullishBullish
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 135,20 SAR
Average target price 115,87 SAR
Spread / Average Target -14,3%
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Managers and Directors
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Timothy D. Leveille Executive Vice President-Corporate Finance
Khalid Hashim Al-Dabbagh Chairman
Bob Maughon Executive Vice President-Technology & Innovation
Khaled Hamza Nahas Independent Director
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