OVERVIEW

Achieving Together A Year Marked by Exceptional Growth, Resilience, and Collaborative Success

VISION

Growing chemical company acting responsibly towards all stakeholders.

MISSION

Provide quality products through professional work environment to maximize profit in a socially responsible and sustainable manner.

OUR
VALUES

Excellence

We do the right things right first time; deliver on commitments.

Continuous Improvements

We pro-actively recognize business opportunities; benchmark and implement best practices; challenge status quo.

Customer Care

We adjust business processes to best meet customer needs and to ensure customer satisfaction.

Team Spirit

We sacrifice own needs for the good of the team; Never undermine team efforts; Celebrate achievements;

Transparency

We speak up our mind; give positive and constructive feedback.

ADVANCED
AT A GLANCE

Advanced in Numbers

Established in 2005

2.6B SAR Capital

04 Affiliates

574 Employees

The Activity: Manufacturing of Propylene & Polypropylene

The Activity Revenues in 2023: 2,374 (in Millions SAR)

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The Company’s products are the basic
building blocks used to manufacture
countless goods such as:

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Business Model

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ADVANCED
AT A GLANCE

Advanced Petrochemical Company (Advanced) or (Company) is engaged in the manufacture of plastics in primary forms, investment in industrial projects including, but not limited to, projects relating to petrochemical, chemical, basic and conversion industries and industries relating to renewable energy and to establish, operate and own industrial projects both within and outside of the Kingdom of Saudi Arabia.

In May 2005, Advanced started the construction of its integrated petrochemical plants, located in Jubail Industrial City in the Eastern Province of the Kingdom of Saudi Arabia, which started its commercial production from its polypropylene facility on the March 03, 2008. The integrated plant is designed to produce 455,000 tons per year of propylene and 450,000 tons per year of polypropylene (nameplate capacities) from its production facility. Advanced utilizes the PDH-Catofin Technology, which is licensed by LummusTechnology, for the production of propylene, and it uses the Novolen Technology for the production of various polypropylene products. The products are marketed locally and globally through well-renowned off- takers. The Companys products are used in plastic applications such as cast film, BOPP films, fibers, filaments, woven tapes, non woven fabrics, and injection molding. Since the inception of Advanced, it has established itself as one of the major players in the petrochemical industry in the region.

Advanced in Numbers

Established in 2005

2.6B SAR Capital

04 Affiliates

574 Employees

The Activity: Manufacturing of Propylene & Polypropylene

The Activity Revenues in 2023: 2,374 (in Millions SAR)

CORPORATE
STRUCTURE

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The Main Activity of the Company and its Subsidiaries:

The main activity of the Company is in the field of manufacturing and converting petrochemicals, which includes the production of propylene and polypropylene and the marketing and selling of the final product (polypropylene) inside the Kingdom by the Company, and outside the Kingdom through international offtakers. The company’s main product, which is polypropylene, generated a revenue of 2,374 Million SAR in 2023.

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Advanced Global Investment Company (AGIC):

It is a Saudi company, Single Shareholder limited liability Company wholly owned by Advanced, established in August 2012 with a paid-up capital of one million Saudi Riyals and its activity is to invest in industrial projects including projects relating to petrochemical and chemical industries, basic and conversion industries, and to establish, operate and own industrial projects both within and outside of the Kingdom of Saudi Arabia.

The company has industrial investments in (i) SK Advanced Ltd. in Ulsan City, South Korea, in which it owns 30% in equity, and the realized share of losses by the end of 2023 amounted to a total of 97 Million Saudi riyals, and (ii) Advanced Polyolefins Industry Company (APOC) with ownership of 85% by Advanced Global Investment Company and 15% is owned by SK Gas Petrochemical Pte. Ltd. The total equity injection for APOC from AGIC is SAR 2.18 Billion which has been partly funded by its own cash as well as by borrowing through Revolving Credit Facility (RCF).

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Advanced Global Marketing Company (AGMC):

It is a Saudi company, Single Shareholder limited liability Company wholly owned by Advanced, established in March 2012 with a paid-up capital of one million Saudi Riyals. The principal objective of the Company are to market products of petrochemical, chemical, basic and downstream industries as well as the provision of marketing services on behalf of Advanced, APOC and Advanced’s future growth projects, within and outside of the Kingdom of Saudi Arabia. It has not recorded any assets, liabilities or any operations including any potential liabilities for the period ending on December 31, 2023. Consequently, there is no impact on the Company’s business volume during the fiscal year 2023.

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Advanced Global Holding Company Ltd.:

It is a limited liability company whose activity is to invest in the production and marketing of petrochemical and chemical products, and it was registered in Luxembourg in February 2014 with a paid-up capital of one hundred USD with a 100% investment by Advanced Global Investment Company, and the amount of the capital contribution during the year 2014 was deposited in the company’s bank account and it did not register any assets, liabilities, or any operations, including any potential liabilities, for the period ending on December 31, 2023. Consequently, there is no impact on the volume of the Company’s business during the fiscal year 2023.

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Advanced Polyolefins Industry Company (APOC):

Advanced Polyolefins Industry Company is a Saudi mixed closed joint stock company registered in Jubail, Kingdom of Saudi Arabia with a paid-up capital of (2,210,625,000) Saudi Riyals and 85% is owned by Advanced Global Investment Company (remaining 15% is owned by SK Gas Petrochemical Pte. Ltd., a company organized and existing under the laws of Republic of Singapore). The Company has not commenced its commercial operations and is under construction phase which is expected to be completed by H2 2024.

ADVANCED’S
JOURNEY

  • 2005

    Advanced Site Construction

  • 2006

    Initial Public Offereing in December 2006 and listed in the Saudi Exchange in January 2007 with a capital of (SAR 1,413,750,000)

  • 2008

    Commissioning of PDH and Polypropylene plant

  • 2012

    First Paid Capital increased by 16% to (SAR 1,639,950,000) through issuing bonus shares

  • 2013

    Signed agreement with SATORP to purchase 80 KTA Propylene to enhance PP production utilizing the same assets (currently extended to 120 KTA up to Dec 2025)

  • 2014

    MOU with SK Gas to establish state-of-the- art Propane Dehydrogenation (PDH) plant in South Korea to produce Propylene with Name Plate Capacity of 600,000 KTA

  • 2016

    Started commercial production of SK Advanced PDH Plant in South Korea

    Second Paid Capital increased by 20% to (SAR 1,967,940,000) through issuing bonus shares

  • 2018

    Awarded EPC contract for 400 KTA PP plant to be set up in South Korea (“UPP”), which is 50% owned by SK Advanced

  • 2019

    Third Paid Capital increased by 10% to (SAR 2,164,730,000) through issuing bonus shares

    Redemption of SAR 1 billion for Advanced Petrochemical Company from SUKUK

    Obtained feedstock allocation from the Ministry of Energy to set up a new PDH-PP complex in Jubail industrial City

  • 2020

    Signed Joint Venture agreement for new PDH-PP project in Jubail industrial with SK Gas ( to form Advanced Polyolefins Company “APOC”)

  • 2021

    Awarded EPC for the new PDH-PP project by APOC, planned for commissioning in 2024

    Received additional feedstock allocation to establish a new Petrochemical Complex in Jubail-2

    UPP (PP plant in South Korea 50% owned by SK Advanced) started commercial operation

  • 2022

    Achieving 22 Million safe man- hours without lost workday Injuries

    Awarded the 1st Rank in Environmental Performance among Jubail Primary industries by the Royal Commission of Jubail & Yanbu.

    Achieved highest ever PP production and sales.

    Forth Paid Capital increased by 20.11% to (SAR 2,600,000,000) through issuing bonus shares

  • 2023

    Achieved the highest monthly sales and shipped volume since the inception of our company.

    Achieved the highest direct sales in company history.

    Advanced got certified as GCC Economic Operator.

    Achieving 24 Million safe man- hours without lost workday Injuries