Saudi Basic Industries Corporation (Sabic), the world's biggest petrochemicals group by market value, has announced the opening of its new $100 million  technology center in the south Indian city of Bengaluru.

The company’s state-of-the-art Sabic Technology Center (STC) was inaugurated by Prince Saud bin Abdullah bin Thenayan Al-Saud, the chairman of Sabic and chairman of the Royal Commission for Jubail & Yanbu.
 
The center, built with an initial investment of $100 million, is one of 17 Sabic global R&D centers of excellence. The STC, with an area of 187,000 sqm, is home to over 300 scientists from India – a critical mass of some of the best and brightest talent from this vibrant country.

In his welcome address, Prince Saud said, "We are extremely proud to be here, in a city that is a world-renowned center for technology in India. Saudi Arabia and India have a long history of deep relationships. We believe in the future of India – a rapidly developing nation where partnership and inclusive development is a priority."

He pointed out that the launch of the new research unit was a significant milestone for Sabic in India. "India is an important market for us in Asia, which is why the investment here is significant," he added.

From Sabic’s perspective, the key to success here involves partnership and cooperation among governments, scientists and the business sector to promote science, technology and innovation. Today, we are joined by our valued customers and business partners to achieve long term success.

Echoing Prince Saud’s comments, Mohamed Al-Mady, the vice chairman and CEO said, "Sabic as a company grounded in developing material solutions has innovation, ingenuity and collaboration at its core, helping us to achieve a deeper understanding of our customers and their business. This major center in Bengaluru is an integral part of our global R&D strategy."

"In this center the  scientists here are carrying out cutting-edge research into new platforms for next-generation materials across industry sectors including Construction, Clean Energy, Electrics and Electronics, Medical Devices, Transportation. Other initiatives include designing greener building materials to reduce environmental footprints and developing eco-friendly products in response to global megatrends and needs,” he remarked.-TradeArabia News Service