Sabic boosts Asia presence with key investments
Guangzhou , May 17, 2011
Saudi Basic Industries Corporation (Sabic) is accelerating its growth in Asia with massive investments in key areas including polycarbonate (PC) production besides setting up new technology and innovation centers in the region.
The Saudi company reiterated its commitment to Asian region, which it said was one of the most important engines of growth for Sabic globally.
The new investments in the region include a new project for PC production in Tianjin, China and technology and innovation centers in regional heavyweights, China and India.
On its ambitious Asian plans, Mohamed Al-Mady, Sabic vice chairman and CEO, said, 'Our strong presence in Asia reflects our ambition to be the preferred petrochemical supplier in this important region.'
Sabic, he said, has embarked on a series of infrastructure expansions as part of our growth plans here. 'These include our offices, manufacturing and technology and innovation operations across 13 key markets, supported by 2,000 employees.'
'Our focus remains on helping our customers create products that improve the quality of life around the world,” said at a media conference held alongside Chinaplas 2011,' he added.
Sabic chairman Prince Saud bin Abdullah bin Thenayan Al-Saud said, 'These new investments reflect Sabic’s dedication to further expand our home market in Asia and highlights the importance we attach to our customers, partners and employees.'
'In addition to these investments, Sabic is constantly improving assets, expanding offices across Asia, exploring other opportunities, and seeking new partnerships,' he pointed out.
Prince Saud is currently on a visit to China where he will attend a series of high-level meetings with officials from the private and public sectors and will also be supporting Sabic participation in 'Chinaplas 2011,' one of Asia’s largest plastics and rubber annual trade fairs.
Asia is Sabic's fastest growing region with strong double digit growth since its establishment in 1985 and it has clearly become the most important engines of growth for Sabic globally.
A key milestone of these new investments is the signing of a MoU with Sinopec to collaborate on PC production with an annual capacity of 260,000 MT in China.
Sabic also has plans to set up technology and innovation (T&I) centre projects in China and India. The T&I centre in Shanghai, China will house the new Greater China Regional Headquarters (RHQ) occupying 60,000 sqm.
The Chinese centre will oversee regional operations, sales and marketing, and spearhead research and development of new and innovative petrochemical products for Asia, while the T&I centre in Bangalore, spanning 187,000 sqm, will focus on diverse areas of research. Both centres are expected to be operational in 2013.
Sabic is showcasing some of its innovative products in line with the theme for Chinaplas 2011, “A Culture of Innovation.”
These include the all-new Range Rover Evoque – the lightest, smallest and most fuel-efficient Range Rover ever showcasing Sabic’s lightweight and eco-friendly materials.
'This car is 35 per cent lighter than Land Rover’s 2010 Range Rover Sport model and leads to reduced CO2 emissions,' the company said.
Beside Sabic also has on display 55 applications across diverse industries including infrastructure, building and construction, household, film and packaging, automotive and transportation, and fiber and textile.-TradeArabia News Service