Saudi Arabia's Biggest Companies
Saudi Arabia, officially known as the Kingdom of Saudi Arabia and sometimes called "The Land of the Two Holy Mosques" because Mecca and Medina are within the borders. While Saudi Arabia has watchdog groups poised to attack their human rights policies, they are a welfare state, which means the government works to provide for the social good of the Saudi Arabian citizens.
Saudi Arabia boasts the largest oil reserves on the globe and oil is the chief export of their economy. Like many Middle East countries, Saudi Arabia is working to bolster the private sector of industry by allowing the private ownership of electric and telecommunication companies.
Saudi Arabia is growing country with a rising per capita income and is planning to launch six new economic cities by 2020.
Saudi Basic Industries Corporation
Saudi Basic Industries Corporation is a public company, which was founded in 1976 in an effort to exploit Saudi Arabia's natural resource of hydrocarbon. Saudi Basic Industries Corp. is a manufacturing company that produces chemicals, metals, polymers and fertilizer. They enjoy a yearly net income of over $5 billion and employee over 19,000 workers. Saudi Basic Industries Corp. is Saudi Arabia's largest public company, but the Saudi government does own 70% of the shares. Saudi Basic Industries Corporation is also the largest non-oil industrial company in Saudi Arabia.
In 2007, General Electric Company sold its GE Plastics division to Saudi Basic Industries Corporation for over $11 billion. Saudi Basic Industries Corp. launched SABIC Innovative Plastics in 2007 and is producing thermoplastic engineered products to over 35 countries.
The Dallah Albaraka Group
Dallah Al-baraka was originally a service company dedicated to cleaning and maintenance, established in 1969. Today, the Dallah Albaraka Group holds over 300 companies spanning 40 countries.
The Dallah Albaraka Group has three basic categories of companies - finance, media, and business. The business operations still include a cleaning and maintenance branch, but have expanded into hospitals and restaurant ventures. The media operations include Arab Radio & Television, a satellite broadcasting company. The financial functions of international banking include banks from Algeria to Sudan, which have formed the Albaraka Banking Group. Dallah Albaraka invests in other business ventures such as traffic light manufacturing, pesticide production, and road construction materials.
Saudi Arabian Airlines
Saudi Arabian Airlines was established in 1945 with only one plane that was given by United States President Franklin D. Roosevelt to King Abdul Aziz. In a few months, additional DC-3s were added to the fleet and within a few years, Saudi Arabian Airlines was one of the biggest airlines in the world.
In 1963, Saudi Arabian Airlines incorporated and by Royal Decree, the airline became an independent entity, with its own Board of Directors. In 1967 they joined the International Air Transport Association and began service to many more cites.
Cargo freighter service was introduced to Delhi in 2000 and the Saudi Arabian Airlines Catering service made over 13 million meals for 50 international airline flights besides Saudi Arabian Airlines. In 2005, Saudi Arabian Airlines celebrated its 60th Anniversary with a record number of passengers - 16 million.
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