On Saturday February 26, Sabic (www.sabic.com) signed an agreement with the local King Abdullah University for the development of the plastics industry in Saudi Arabia. A research centre, funded by Sabic with an initial investment of 150 million dollars, will ensure technological innovation to companies, allowing them to increase their competitiveness on international markets.
The agreement provides for a second phase in five years, with an investment of 1 million dollars per year by Sabic, a top ranked company in the world petrochemical industry.