Saudi Arabian Fertilizer Company, the first petrochemical company in Saudi Arabia, was established under Royal Decree No. M/13 dated 11-05-1385H – 1965 as a joint venture between the Government and the citizens of Saudi Arabia with a share capital of SR100 million. The capital of the company was increased several times and its current capital is SR3, 333 million made up of 333 Million shares of SR 10 each. Saudi Arabian Basic Industries Corporation (SABIC) owns 42.99% with 57.01% being held by the private sector and the public.
The company expanded its activities through ownership of 50% of the National Chemical Fertilizers Company (IBN AL-BAYTTAR) jointly with SABIC. IBN AL-BAYTTAR is a limited liability company incorporated on 20/07/1405H ,corresponding to 10/04/1985AD, located in Jubail Industrial City and is engaged in the manufacturing and marketing of chemical fertilizers of all kinds. Moreover, SAFCO owns 3.87% share in the capital of Arabian Industrial Fibers Company (IBN RUSHD) and 1.69% in the capital of Yanbu National Petrochemical Company (YANSAB).