Riyadh – Mubasher: Saudi Basic Industries Corp (SABIC) revealed that it has no intention to raise more debts but it might consider refinancing.
SABIC’s CEO, Yousef Mohamed Al Benyan, added that the company targets becoming the world's third biggest petrochemical manufacturer by growing its existing businesses and through acquisitions, Reuters reported.
Al Benyan noted that the Saudi-listed firm is already ranked fourth in that regard.
SABIC achieved a net profit of SAR 5.24 billion during the first quarter of 2017, compared with SAR 2.91 billion in the same period of 2016; a year-on-year increase of 80%.
