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The world's 5th largest petrochemicals company, SABIC (Saudi Basic Industries Corporation), with headquarters in Riyadh, Saudi Arabia, was founded in 1976, when the Saudi Arabian government decided to use the hydrocarbon gases associated with oil production as raw materials to produce chemicals, polymers and fertilizers. The Saudi Arabian government owns 70% of SABIC shares with the remaining 30% held by private investors in Saudi Arabia and other Gulf Cooperation Council countries. SABIC's businesses are grouped into six strategic business units, supported by corporate departments and a shared services organization. The SBUs are Basic Chemicals; Polymers; Intermediates; Fertilizers; Specialty Products and Metals.