Saudi firm plans tech center
By Richard Fu |
April 7, 2012, Saturday
|
Print Edition
Print Edition
SAUDI Basic Industries Corp started construction on a US$100 million technology center in Shanghai yesterday as part of the petrochemical giant's effort to expand in China.
The center, in Kangqiao in Pudong New Area, will focus on advanced engineering plastics that can be used in a broad array of industries from automotive, electronics to alternative energy and constructions. It will have 400 employees when completed in 2013.
The groundbreaking event, officiated by Saudi Prince Saud bin Abdullah bin Thenayan al-Saud, who is also SABIC chairman, came just days after the Saudi company earlier this week laid the foundation for a polycarbonate production complex in north China's Tianjin City, as part of a 50-50 venture with Sinopec Corp, Asia's largest refiner.
SABIC doesn't reveal China sales breakdown but Li Lei, SABIC's vice president in charge of north Asia, said regional growth has been at double-digit rate over the past years.
Speaking on the occasion, Pudong's vice head Liu Zhengyi said: "We are confident that SABIC will empower more industries to innovate with its material solutions."
The center, in Kangqiao in Pudong New Area, will focus on advanced engineering plastics that can be used in a broad array of industries from automotive, electronics to alternative energy and constructions. It will have 400 employees when completed in 2013.
The groundbreaking event, officiated by Saudi Prince Saud bin Abdullah bin Thenayan al-Saud, who is also SABIC chairman, came just days after the Saudi company earlier this week laid the foundation for a polycarbonate production complex in north China's Tianjin City, as part of a 50-50 venture with Sinopec Corp, Asia's largest refiner.
SABIC doesn't reveal China sales breakdown but Li Lei, SABIC's vice president in charge of north Asia, said regional growth has been at double-digit rate over the past years.
Speaking on the occasion, Pudong's vice head Liu Zhengyi said: "We are confident that SABIC will empower more industries to innovate with its material solutions."
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