Saudi Basic Industries Corporation (SABIC) has allocated between $3.5 billion and $4 billion for capital expenditure in 2025, the company said in its 2024 financial results published on the Saudi stock exchange on Wednesday.

No details on the investment were given.

The easing of monetary policy is aiding the recovery of the petrochemicals sector, CEO Abdulrahman Al-Fageeh said, adding that  overcapacity remains a challenge, mainly in the polymer sector.

He said ethylene demand growth remains slower than capacity growth, leading to sustained pressure on capacity utilisation rates.

The company, which is 70 percent owned by Saudi Aramco, expects the global GDP to grow to 2.5 percent in 2025.

“While signs point to an economic recovery, interest rates remain a key factor in shaping the global financial outlook,” he stated.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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