Nama Chemicals, also known as NAMA, is a Saudi Arabian

joint stock A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are ...

Taduwal listed company established in 1992 with the objective of developing and establishing industrial projects particularly in the area of chemicals and

petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sou ...

History

Nama Chemicals was established as a local chemicals company in

Jubail Jubail ( ar, الجبيل, ''Al Jubayl'') is a city in the Eastern province on the Persian Gulf coast of Saudi Arabia, with a total population of 684,531 as of 2021. It is home to the largest industrial city in the world. It is also home to th ...

, Saudi Arabia in 1992. The city lays along the

Persian Gulf The Persian Gulf ( fa, خلیج فارس, translit=xalij-e fârs, lit=Gulf of Persis, Fars, ), sometimes called the ( ar, اَلْخَلِيْجُ ٱلْعَرَبِيُّ, Al-Khalīj al-ˁArabī), is a Mediterranean sea (oceanography), me ...

on the eastern coast of Saudi Arabia and since the establishment of the company, has grown to become a major industrial city. NAMA was part of a

consortium A consortium (plural: consortia) is an association of two or more individuals, companies, organizations or governments (or any combination of these entities) with the objective of participating in a common activity or pooling their resources for ...

of private companies to bid for a development contract for which was to become Saudi Arabia's first privately owned refinery in 2011, but lost the bid to the state

oil company The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of hydrocarbon exploration, exploration, extraction of petroleum, extraction, oil refinery, refining, Petroleum transport, transportation (of ...

Saudi Aramco Saudi Aramco ( ar, أرامكو السعودية '), officially the Saudi Arabian Oil Company (formerly Arabian-American Oil Company) or simply Aramco, is a Saudi Arabian public petroleum and natural gas company based in Dhahran. , it is one of ...

. In 2014, NAMA finished the expansion of its largest epoxy resins plant, raising the production capacity from 60,000 to 120,000 tons of

epoxy Epoxy is the family of basic components or cured end products of epoxy resins. Epoxy resins, also known as polyepoxides, are a class of reactive prepolymers and polymers which contain epoxide groups. The epoxide functional group is also coll ...

per year. The construction contract, valued at around $116 million, had been awarded to

Jacobs Engineering Group Jacobs Solutions Inc. is an American international technical professional services firm. The company provides engineering, technical, professional and construction services, as well as scientific and specialty consulting for a broad range of cli ...

in 2011. Trial runs at the expanded plant were started in October 2013 with commercial operations fully commencing in April 2014.

Corporate structure

Management

Saud Abdul Aziz Al Gosaibi, a Saudi businessman, is the chairman of the company. Fahad Al Otaibi is the company president. Other board members include Khalifa Al-Mulhem, Mohammed Al-Bahar, Khalid Al-Rawaf, and Sultan K. Al-Turki. Kamal Mohammed Fatayerji is NAMA's CEO and Faisal Al Tutairi is the companies current Vice President of Administration and Industrial Services.

Affiliates

NAMA

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

, located in

Bern german: Berner(in)french: Bernois(e) it, bernese , neighboring_municipalities = Bremgarten bei Bern, Frauenkappelen, Ittigen, Kirchlindach, Köniz, Mühleberg, Muri bei Bern, Neuenegg, Ostermundigen, Wohlen bei Bern, Zollikofen , website ...

Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...

, NAMA Germany, NAMA Industrial Investment, Arabian Alkali Company (SODA) and Jubail Chemical Industries Company (JANA) are affiliate companies of NAMA.

Shareholders and finance

From 2003 to 2008, NAMA's sales increased by 400% to $170 million. In 2017, NAMA announced a recovery plan after having made losses in previous quarters. During the downturn of the ME

stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as ...

in the same year, NAMA was one of the two of 14 petrochemical companies to not loose points, but instead increased by 9.1%. In 2006 Nama Chemicals was listed as one of the Saudi Arabia's top 100 companies.

Operations

The company manufactures and markets epoxy,

epichlorohydrin Epichlorohydrin (abbreviated ECH) is an organochlorine compound and an epoxide. Despite its name, it is not a halohydrin. It is a colorless liquid with a pungent, garlic-like odor, moderately soluble in water, but miscible with most polar organi ...

caustic soda Sodium hydroxide, also known as lye and caustic soda, is an inorganic compound with the formula NaOH. It is a white solid ionic compound consisting of sodium cations and hydroxide anions . Sodium hydroxide is a highly caustic base and alka ...

chlorine Chlorine is a chemical element with the Symbol (chemistry), symbol Cl and atomic number 17. The second-lightest of the halogens, it appears between fluorine and bromine in the periodic table and its properties are mostly intermediate betwee ...

hydrochloric acid Hydrochloric acid, also known as muriatic acid, is an aqueous solution of hydrogen chloride. It is a colorless solution with a distinctive pungent smell. It is classified as a strong acid Acid strength is the tendency of an acid, symbol ...

sodium hypochlorite Sodium hypochlorite (commonly known in a dilute solution as bleach) is an Inorganic chemistry, inorganic chemical compound with the chemical formula, formula NaOCl (or NaClO), comprising a sodium cation () and a hypochlorite anion (or ). It may ...

and

calcium chloride Calcium chloride is an inorganic compound, a salt with the chemical formula . It is a white crystalline solid at room temperature, and it is highly soluble in water. It can be created by neutralising hydrochloric acid with calcium hydroxide. Ca ...

to the worldwide market. Revenue from their sales of epoxy form the core of the company activities with a worldwide market share of 6%.

References

External links

{{Portal, Saudi Arabia, Energy, Companies
NAMA
Oil and gas companies of Saudi Arabia Energy companies established in 1992 Non-renewable resource companies established in 1992 Jubail Saudi Arabian companies established in 1992