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FINANCIAL NEWS
Saudi’s SABIC to fund local purchases to SAR 1.19bn
08 Aug 2016
(MENAFN) Saudi Basic Industries Corp. proclaimed that it will raise its regional purchases to SAR 1.19bn and the rate of local produced materials to 72 percent.
Moreover, the firm plans to grow the regional content and nationalize more than SAR 270bn, in order to promote the added value of the local content.
Accordingly, SABIC will have a positive influence on the national economy and will promote the competition in the market.
It was also emphasized the importance of joining the plans and content support programs in the mega firms to apply the Saudi industrial National Transformation plan.
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