Al-Jubail—Saudi Arabian Fertilizer Co. (Safco) is considering buying Saudi Arabia Basic Industries Corp.’s (Sabic) stake in ammonia and urea producer National Chemical Fertilizers Company (Ibn Al-Baytar) and taking full control of the company, Safco said in a filing March 13. Al-Jubail-based Ibn Al-Baytar is a 50-50 joint venture between Safco and Sabic and also produces compound and liquid fertilizers. Safco said it is conducting an economic feasibility study on the possible acquisition of the stake, but it emphasized that this does not represent a preliminary agreement, nor does it impact Safco’s assets, operations, or financial position. Sabic owns a 42.99 percent interest in Safco.
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