INTERNATIONAL. SABIC today announced a US$100 million investment to build 60,000 sqm new Technology Center in Kangqiao, east of Shanghai.
The center will house some 400 employees who will relocate to this new facility when completed in 2013. In addition to commercial and corporate function staff, there is a Research & Development team of over 200 scientists and engineers who will focus on advanced engineering plastics materials that can be used in a broad array of industries from automotive, personal electronics, IT, alternative energy, building and constructions to infrastructures.
A new feature of the center includes the China Automotive Innovation Hub to drive next generation materials solutions.
Investment of the center was announced in May 2011. Today marked an important milestone as SABIC leaders His Highness Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu, and Chairman of SABIC; and Mohamed Al-Mady, SABIC Vice Chairman and CEO officiated the ground-breaking ceremony graced by Guests-of-Honour Mr Xu Lin, Member of The Standing Committee of CPC Shanghai Committee, and Party Secretary of Shanghai Pudong New Area; Liu Zhengyi, Deputy Governor of Shanghai Pudong New Area; and HE Yahya Alzaid, Ambassador of the Kingdom of Saudi Arabia in China. More than 200 guests including Chinese government officials, SABIC senior leaders and employees, and media were present at the event.
Prince Saud who officiated the ground-breaking ceremony said: “Material sustainability is key to the creation of new applications across industries. With the new technology center, SABIC brings to China its global expertise and experience in petrochemical research and production helping enterprises create new possibilities in the design of products for local and global markets.”
Speaking at the ceremony, Al-Mady remarked: “Through deep understanding of our customers’ needs, we are committed to deliver materials innovation that matters, demonstrating our commitment through our China Automotive Innovation Hub for the design and creation of next generation energy-efficient vehicles in collaboration with local partners and customers.”
Zhengyi said: “We’re pleased to mark the official ground-breaking of SABIC’s new Technology Center. SABIC is one of the largest petrochemical companies in the world and with its growing investment in research, we are confident that SABIC will empower more industries to innovate with its material solutions. We will continue to create an even more favorable environment for multinational companies, like SABIC, to be successful.”
With environmental sustainability in mind, the center will be built with the highest global green standards in line with the guidance by the Leadership in Energy and Environment Design (LEED) Gold Certification.
The global certification standard provides industry verification that the facility has been designed and built to achieve high performance in key areas such as: sustainable site development water savings, energy efficiency, materials selection and indoor environmental quality.
Ernesto Occhiello, SABIC Executive Vice President of Technology and Innovation concluded: “A cornerstone of sustainable development in China’s next phase of growth is the ability of local industries to become innovation powerhouses on the global stage. SABIC has the ambition to deliver long term success for our stakeholders.”
Saudi Basic Industries Corporation (SABIC) ranks among the world’s top petrochemical companies. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
SABIC recorded a net profit of SR 29.24 billion (US$ 7.80 billion) in 2011. Sales revenues for 2011 totaled SR 189.90 billion (US$ 50.64 billion). Total assets stood at SR 332.78 billion (US$ 88.74 billion) at the end of 2011.
SABIC’s businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 17 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India and South Korea. The company operates in more than 40 countries across the world with more than 33,000 employees worldwide.
SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific.
Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.