About

Saudi Arabia Basic Industries Corporation (SABIC) has been highly active over the past year, signing deals that will shore up the company’s existing business and open up new markets. The company recently put pen to paper on a deal that will see it construct a petrochemical installation for Chinese firm Shenhua Ningxia Coal Industry Group for an undisclosed amount, and a further $6bn facility for Hong Kong Huatong Investment Holding Limited. The company has also embarked upon a number of new joint ventures, including one to produce a polyethylene production plant with Korean company SK Global in July 2015 worth around $640m. This joins their extensive existing portfolio, including the Saudi Arabian Industrial Investments Company, a joint venture with Saudi Aramco and Saudi Arabian Investment fund that began operations in 2014. These diversified ventures are evidence of the range of products that SABIC engages in, which include the manufacture of polymers, fertilizers, metals and chemicals. The legal team at SABIC is over 190 members strong and contains a wide range of legal talent, with expertise added to by the broad range of deals and transactions that the company completes. Lawrence Harnett leads the global legal team in his position as vice president and general counsel, and provides a wealth of legal knowledge gleaned from an extensive in-house legal career as well as a 15-year tenure as a private practice lawyer.