Sahara’s marketing subsidiary begins operations

Sahara Petrochemical Company (Sahara) announced that its fully-owned subsidiary, Sahara Marketing Company (SMC), has commenced marketing operations as of Oct. 11, 2018.

In a statement to Tadawul, the company said that SMC has entered into a long-term agreement with Sahara’s affiliate, Al-Waha Petrochemicals Company, to off-take and market polypropylene in the GCC.

“SMC will continue to add more petrochemical products to its marketing portfolio as well as expand its geographical outreach in future in line with Sahara’s strategy,” noted the bourse filing.

In order to allow SMC to sell and market its products, Al-Waha has renegotiated its long-term polypropylene agreement with Basell Sales and Marketing Company.

SMC, established in December 2016 with a capital of SAR 500,000, includes sales activity for industrial chemicals, petrochemicals, export and commercial undertakings, and marketing on behalf of third parties.