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The Role of the Controller in the Saudi Basic Industries Corporation

In: Business and Economic Development in Saudi Arabia

Author

Listed:
  • Sulayman H. Atieh

Abstract

This chapter presents the findings of an empirical study that investigated the role of the controller in the Al-Jubail area affiliates of the Saudi Basic Industries Corporation (SABIC), located in the Al-Jubail area. SABIC, a Saudi joint stock company with capital of SR 10 billion, was incorporated in 1976 under Royal Decree number M/66. Its purpose has been to establish large-scale, capital-intensive foundry industries that utilise the Kingdom’s hydrocarbon resources, particularly natural gas and natural liquid gas, and to provide intermediate industrial products for the secondary industries in the private sector. When completed, the capital investments of SABIC will have reached SR 54 billion. SABIC operates primarily through joint venture partnerships with a number of leading multinational industrial corporations, such as the Mitsubishi Gas Company, Celanese Corporation, Texas Eastern Corporation, Exxon Chemical Company, Shell Oil Company, Taiwan Fertilizer Company and others.2

Suggested Citation

  • Sulayman H. Atieh, 1996. "The Role of the Controller in the Saudi Basic Industries Corporation," Palgrave Macmillan Books, in: J. W. Wright (ed.), Business and Economic Development in Saudi Arabia, chapter 12, pages 185-195, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25096-7_13
    DOI: 10.1007/978-1-349-25096-7_13
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