92. National Industrialization Company (Tasnee)

Country: Saudi Arabia
Sector: Industrials
CEO: Mutlaq Al Morished
Market Value: $2.4 billion
Sales: $1 billion
Profits: $290 million
Assets: $6.6 billion

Tasnee was founded in 1985. It is one of Saudi Arabia’s largest industrial companies and one of the world’s largest investors in titanium dioxide. Alwaleed bin Talal’s Kingdom Holding Company is the largest shareholder in Tasnee, with a 6.2% stake. It constitutes about 10% of the global titanium sponge production, with an annual output of 15.5 KT, which is used in aviation, nuclear submarines, missiles, and satellite industries. In Q1 2023, the company signed an MoU with the Saudi’s Ministry of Investment and Boeing to develop a titanium value chain in the Kingdom.