Sabic set up an Islamic finance arm that will oversee its domestic Islamic bond issuances.

The firm, which plans to invest $20 billion on expansion projects by 2008, has said it is not looking abroad despite
strong credit ratings, the company said.
Standard and Poor’s in September assigned Sabic ‘A’ long-term and A-1 short-term
ratings, saying they reflected its
position as market leader, its access to cheap natural gas and proximity to
fast-growing Asian markets.