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FINANCIAL NEWS
SABIC announces expansion project for Technology Center in Jubail
19 May 2014
(MENAFN) SABIC said it plans an expansion project for its Technology Center in Jubail Industrial City as part of its plan to strengthen its existence in technology market, according to Arab News.
The company also aims to cope with global growth through investing in new market opportunities and creating new products.
The Jubail center is a part of the company’s global research network of 19 Technology and Innovation facilities.
The new project includes building a USD11 million-worth building near the currently existing center, and is scheduled to be completed by 2017.
Ernesto Occhiello, SABIC executive vice president, technology and innovation, said: “The project, which is well in line with our 2025 strategy, will be instrumental in driving our research and development efforts, particularly in our chemicals and fertilizers business.”
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