Fire at SABIC-owned unit kills 12 workers, injures 11

A fire broke out on Saturday at a plant operated by Saudi Basic Industries Corp.’s (SABIC) subsidiary, Jubail United Petrochemical Co., killing 12 workers and injuring another 11, the petrochemicals giant said in a statement to Tadawul.

The incident, which came during regular maintenance, is not expected to impact the plant’s operations. However, SABIC is currently assessing the damage to determine the related financial impact, which it says, is not likely to be substantial.

SABIC owns a 75 percent stake in Al-Jubail United. Saudi Arabia’s Pension Fund holds a 15 percent position; while the kingdom’s general organization for social insurance (GOSI) owns 10 percent of the plant.