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FINANCIAL NEWS
Sabic signs $126.7m construction deal
02 Dec 2010
(MENAFN) The Saudi Basic Industries Corp. (SABIC) has signed an agreement with El Seif Engineering Contracting Company, for the construction of a new SABIC Plastics Application Development Center (SPADC) at the Riyadh Techno Valley research complex at the King Saud University (KSU) campus in Riyadh, Arab News reported.
The $126.7 million contract was signed by Abdulrahman Al-Ubaid, Executive Vice President of technology and innovation, on behalf of SABIC, while Khaled bin Masa�ad El Seif, Chief Executive Officer of El Seif, signed the deal on behalf of his company.
The center will be equipped with more than 300 state-of-the-art items of special research equipment to be operated by more than 150 expert researchers.
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