Sabic opens new $126m research facility
Riyadh, December 19, 2013
Sabic, the world's biggest petrochemicals group by market value, has opened its new state-of-the-art research facility at the Riyadh Techno Valley in King Saud University.
Riyadh Governor Prince Khaled bin Bandar bin Abdulaziz inaugurated the new Sabic Plastics Application Development Center (SPADC) which covers an area of 42,000 sq m.
Built at a cost of SR472 million ($126 million), the centre will house over 200 Sabic scientists, engineers and technicians working in close research and development collaborations with customers, academia and industrial research communities, within Sabic’s Technology & Innovation global network.
Speaking at the launch, Prince Saud bin Abdullah bin Thenayan Al-Saud, the chairman of Sabic and the Royal Commission of Jubail and Yanbu, said SPADC aims to fulfill the needs of customers and collaborating with them to create dependable technical solutions.
"It is the newest among Sabic’s research centers. It comes close on the heels of the recent launch of two research facilities in China and India," he added.
Initiated by the Ministry of Petroleum and Mineral Resources with strong support from King Saud University, the new center was only made possible with the backing of the government and its determination to make Saudi Arabia a world leader in petrochemical research, he said.
Addressing the gathering, Prince Faisal bin Turki bin Abdulaziz, Advisor at the Ministry of Petroleum and Mineral Resources, commented on the important role this research facility provides for Saudi Arabia’s downstream development and for the Kingdom’s overall energy value chain – adding value to its hydrocarbon resources and further diversification of its economy.
He hoped this center would be an addition to Sabic’s research and development investments in KSU, and hoped that Saudi universities would be the targets of research and development investments and programs undertaking by Saudi and international companies, and that all would work sincerely towards this end for the benefit of the kingdom and its economy and the competency of its academic institutions and companies.
In his address, Mohamed Al-Mady, Sabic vice chairman and CEO, said, “The new center is yet another important step for Sabic to evolve further as an innovation-driven company, besides being an important driver of economic growth within Saudi Arabia’s efforts to become a knowledge-based economy. SPADC’s role will be to introduce innovative plastics solutions to Saudi Arabia’s entrepreneurs, delivering new applications for businesses.”
“Our plans call for further strengthening our innovation footprint. We have just set up a new research facility at the King Abdullah University of Science and Technology; and we now have about 2,000 researchers worldwide, with the number growing rapidly. These facilities are focussed on developing innovation strategies that will help the company deliver strong business results,” Al-Mady added.
The opening of this world-class facility, after the recent launch of two research facilities in China and India by the Sabic chairman, confirms the petrochemical giant as the leading driver of innovation in the Middle East, and establishes Sabic as a strategic partner for industry.
Sabic has been growing to have one of the highest number of patents per researcher in the top chemical companies.
SPADC will be augmented over time by the establishment of a Home of Innovation which will provide a meeting ground between specifiers, customers and businessmen for growing new opportunities, in areas such as construction materials and consumer goods, he added.-TradeArabia News Service