Farabi Goes East: Expands Investment Horizons with Launch of China Operations

Saudi Arabia: Saudi Arabia's Farabi Petrochemicals Company, a top player in Linear Alkyl Benzene (LAB) production used in household and laundry products, has acquired 50% of shares in Great Orient Chemical Pte. Ltd. The latter is the sole owner of Great Orient Chemical Taicang Co. Ltd., which operates several petrochemical complexes in the country.

GOCT has set up a LAB production facility in Taicang, China. Farabi, which is in the process of acquiring a 50% stake from leading Korean specialty chemical company, ISU Chemical Co., Ltd, will be continuing its joint venture with the existing partner, Trevose International Pte. Ltd, which currently holds the other 50% share and is a subsidiary of the Indonesian Salim Group.

On June 16th, the parties came together in Singapore to sign both the Share Purchase Agreement and the new Shareholders Agreement. The signing ceremonies were attended by the top management and executives of each party and served as a commemoration of the occasion.

Farabi Petrochemicals Company's Group CEO, Mohammed Z. Al-Wadaey, expressed his enthusiasm for the company's recent partnership with a prominent regional detergent and diversified business leader in Southeast and Far East Asia. Al-Wadaey views this acquisition as a major accomplishment for the company, as it aligns with their strategy to expand their offerings of LAB products and reinforce their position in the home care detergents sector in the regions.

Al-Wadaey also expressed his confidence in the partnership between Farabi Petrochemicals and SALIM group, stating that their shared vision for the future will allow them to achieve even greater milestones as a team. Additionally, the new joint venture between Farabi HK and Trevose will maintain all existing partnerships and agreements with suppliers and customers, and employees will continue their work without any disruptions.

Al-Wadaey expressed enthusiasm in welcoming the GOCT team, recognizing their experience and talents as a valuable addition to their organization. He also extended gratitude to both companies' employees and external partners for their hard work and dedication, expressing excitement in working with them to strengthen Farabi's global presence.

Farabi Petrochemicals Group, a global leader in the Linear Alkyl Benzene (LAB) and N-Paraffin industry, is making waves from its headquarters in the Kingdom of Saudi Arabia (KSA). The Farabi Group is composed of five top-tier companies: Farabi Petrochemicals Company (FPC), Farabi Yanbu Petrochemicals Company (FYPC), Farabi Downstream Company (FDC), HADAF International Energy Company (HADAF), and Farabi Marketing Company (FMC), all situated in Jubail and Yanbu Industrial cities of KSA.

Farabi's portfolio boasts two world-scale Normal Paraffin plants and three world-scale LAB plants, complemented by specialty oils and specialty chemicals plants located in Yanbu and Jubail. With this infrastructure, Farabi has emerged as the largest N-Paraffin and second-largest LAB producer globally, setting an impressive standard for the industry.