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Sabic, KSU sign co-operation deal to back economic plans

RIYADH, October 30, 2015

Saudi Basic Industries Corp (Sabic) and the King Saud University (KSU) have signed a strategic co-operation agreement covering a variety of programmes to support to kingdom’s plans to transform into a knowledge economy as well as to fulfil Sabic's 2025 growth strategy.
 
The agreement was signed during the 'Universities and Private Sector Partnership in Developing Scientific Research' symposium at KSU in Riyadh recently, said a statement.
 
Awadh Al-Maker, Sabic executive vice president, Technology and Innovation, signed the agreement on behalf of Sabic, while Dr Badran Al-Omar, University Rector, signed on KSU’s behalf. 
 
The signing ceremony was attended by Dr Azzam Al-Dekheel, Minister of Education, and Yousef Al-Benyan, Sabic acting vice chairman and CEO.
 
The programmes covered under the agreement include joint research projects by SABIC and the university with the exchange of industrial and academic expertise, training and development of students at Sabic research centres, leveraging the experience of post-doctoral fellowships, use of Sabic and KSU science facilities for mutual benefit, and undergraduate awards for academic achievements.
 
"This agreement supports Sabic’s 2025 strategy, which is aimed at growing the company’s global businesses and addressing future research and development challenges. It effectively contributes to the ongoing efforts to transform the national economy into a knowledge economy capable of better driving the development of the kingdom,” said Al-Benyan.
 
“Sabic has opened all avenues for cooperation with local academic institutions and research organizations to support national efforts aimed at becoming a knowledge-based economy. It seeks to support Saudi universities through agreements for the establishment of research canters, sponsoring research chairs and projects, and providing annual grants to enrich research and technical aspects – all with the aim of meeting development targets and stimulating economic activity,” he said.
 
Sabic and KSU will form a six-member steering committee, three members from each side, to supervise all activities related to the latest agreement, said the statement.
 
It will also submit a report annually to the university and the SABIC leadership on the benefits generated from the joint programmes, it added. - TradeArabia News Service



Tags: sabic | agreement | Co-operation |

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