Advanced Petrochemical Company
Ahmed Albuainain, MBA, is a finance professional currently serving as a Finance Specialist at Advanced Petrochemical Company since January 2023. Prior to this role, Albuainain worked as a Staff Financial Analyst at SIPCHEM from July 2022 to March 2023 and as a Finance Business Partner focused on budgeting and reporting at TASNEE from June 2017 to July 2022, where responsibilities included the preparation of monthly financial statements and annual financial planning. Earlier experience includes working as a Payroll Accountant at Cape plc from 2015 to 2017, ensuring accurate and timely payroll processes, and as a Cooperative Education Student at SABIC in 2007, coordinating various aspects of the sales process. Albuainain holds a Master’s degree in Finance from Huazhong University of Science and Technology and an Associate of Science degree in Marketing from Jubail University College.
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Advanced Petrochemical Company
Advanced Petrochemical Company (‘Advanced ‘) was established as Saudi Closed Joint Stock Company in October 2005, its current 2021 paid up capital is SAR 2,164,734,000. The company has been publicly listed on the Saudi Stock Exchange (“Tadawul”) since 2006. Advanced Petrochemical started the construction of its plants in May 2005. The company designed to produce 455,000 tons per year of propylene and 450,000 tons per year of polypropylene (Name plate capacity) from its production facility located in Jubail Industrial City, in the Eastern coast of the Kingdom of Saudi Arabia. The company started the commercial production from its polypropylene facility on 3rd March 2008. Advanced utilizes the PDH-Catofin Technology, which is licensed by Lummus, for the production of propylene, and it also uses the Novolen Technology for the production of polypropylene. Advanced’s new expansion project to set up a PDH-PP complex in Jubail-2, to produce 843 KTA Propylene and 800KTA Polypropylene, is in the execution phase. This new PDH unit will adopt the same Catofin Technology and the PP units will adopt LyondelBasell’s Spheripol and Spherizone Technologies with PP capacity of 400 KTA each