The Kingdom of Saudi Arabia, the major supplier of crude oil to Japan set agenda to promote its modernization and develop its petrochemical industry in the 1970’s and had requested Japan to cooperate with achieving its goal. In response to request from the Kingdom, SPDC was established in 1979 as a pilot study company by a consortium of Japanese companies to carry out project feasibility study together with Saudi Basic Industries Corporation (SABIC). Consequently, SPDC became an investment company in 1981 with the aid of equity participation of the Japanese Government and proceeded to implement its work in the petrochemical industry as a national project which resulted in signing of 50:50 joint venture agreement toward establishment of Eastern Petrochemical Company (what we call “SHARQ”, which means “Eastern” in Arabic) in Saudi Arabia.
SHARQ has been producing intermediate materials for fibers and resin products such as Ethylene, Ethylene Glycol and Polyethylene, made from competitive raw material available in the Kingdom. After completion of the third expansion in 2010, SHARQ’s production capacity became among the largest in the world on single site basis. In line with government policy of Saudization, 94% of SHARQ employees are Saudi Arabian as of the end of 2020. Meanwhile, Higher Institute for Plastics Fabrication (HIPF) opened back in 2007 with our full support, and has been providing more than 2,000 graduates until 2020 to Plastics industries in the Kingdom and contributing to its industrial development as well as its human resource development.
We are committed to safety operation of SHARQ’s plants by utilizing new technology, reduction of environmental burdens, improvement of product quality, and stable marketing of the products. Our goal is to contribute to improving the quality of life for people all around the world as well as improving corporate value of SHARQ, through stable supply of the raw materials for various consumer goods such as clothing and packaging. We meet the expectation of realizing sustainable society, through our challenge of new business development to be conducive to circular economy with lower carbon as global trend. Together with our stakeholders, we devote ourselves to further developing SHARQ business, creating societal value, and enhancing the partnership between the Kingdom of Saudi Arabia and Japan through these activities.