Saudi Basic Industries Corporation (SABIC) [2010.SE] has announced a new restructuring plan to promote growth and competiveness, according to a report by Alriyadh newspaper. The changes will include the following: i) integration of polymers and petrochemicals unit; ii) establishment of a new arm that specialises in strategy, innovation, business development and M&A’s; iii) separation of engineering and projects management departments; and iv) a merger of the metals strategic business unit (SBU), with the company's wholly-owned subsidiary, Saudi Iron and Steel Company (Hadeed). (Argaam)   SABIC: SAR81.51 as of 04 October 2016, Rating: Neutral, FV: SAR90.00 per share, MCap: USD65,208mn, SABIC AB / 2010.SE