Saudi Petrochemicals - NCBC

COMPANY DESCRIPTIONOTHER RAW MATERIALSSABIC’s subsidiary, National Industrial Gases Co, is fulfilling the oxygenrequirement of Yansab’s complex. All the supply points are located close to theproject site to minimize the possibility of any delays (or disruptions) in supply.Marketing agreementSABIC is responsible for marketing and selling the entire output from Yansab’scomplex to the local and export markets. Yansab, therefore, is set to benefit fromSABIC’s strong marketing network and distribution channels.DividendWe have projected dividend payment of SR1 per share dividend starting from 2011,given Yansab’s only begins commercial operations in 2010. This results in adividend yield of 2.0% for 2011e onwards.27 April 2010 YANSAB – INITIATING COVERAGE46