Saudi Acrylic Acid Company (SAAC) was established in April 2009AD as a limited liability company in which Sahara owns (22%), TSOC owns (65%) and Tasnee owns the remaining (13%) of the share capital. By virtue of Sahara’s 32.55% equity stake in TSOC, Sahara owns an additional indirect equity stake of 21.16% in SAAC giving an aggregate shareholding of 43.16%. The share capital of SAAC is SAR1.777 million. SAAC was established as a holding company for investments in certain other joint venture projects including the Integrated Acrylates Complex project. Current engagements of SAAC are comprising into (75%) equity stake in SAMCO, a seventyfive percent (75%) equity stake in SAPCO and a thirtythree percent (33%) equity stake in Butanol JV. SAAC will also own and operate the U&O Facilities for the Integrated Acrylates Complex project including product storage and warehouse, truck-loading/transportation and port facilities.
Year Established: 2009