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FINANCIAL NEWS
Saudi SABIC launches USD100 m technology center in China
03 Dec 2013
(MENAFN) Saudi Basic Industries Corp. (SABIC) and the Royal Commission for Jubail & Yanbu, have announced the launch of the company’s state-of-the-art SABIC Technology Center (STC) in Shanghai, China, according to Arab News.
The launch ceremony was under the patronage of Prince Saud bin Abdullah bin Thunayan, chairman of SABIC, and Yahya Al-Zaid, Saudi ambassador to China.
The center is one of 17 SABIC global R&D centers of excellence. Investments in the new center reached USD100 million.
Mohamed Al-Mady, vice chairman and CEO, SABIC, said: “SABIC is a company grounded in developing material solutions and has innovation, ingenuity and collaboration at its core, helping us to achieve a deeper understanding of our customers and their business. SABIC is committed to being an inclusive growth partner in the markets we operate in.”
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