SABIC has signed an agreement with Saudi Arabian Mining Company (Ma’aden) to sell its 20.62 per cent stake in Aluminum Bahrain (Alba) for BHD 363-398 million (~$978.48 million-~$1.07 billion).
The sale is pending regulatory approvals in Saudi Arabia and Bahrain.
This move will allow SABIC to optimise its portfolio, focus on core chemicals business, and align with Saudi Vision 2030.