SABIC to launch four technology centers this year

Saudi Basic Industries Corp. (SABIC) plans to launch four new state-of-the-art research and development (R & D) facilities this year: two in Saudi Arabia, one in India, and another in China. This brings the number of its technology and innovation research facilities to 18 in various countries that will serve the 40 countries in which SABIC operates worldwide with 40,000 employees.
 
SABIC, founded in 1976, has reported assets of US$90.13 billion in 2012. Headquartered in Riyadh, it is one of the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers. The Saudi Arabian Government owns 70% of SABIC shares; the remaining 30% is held by private investors in Saudi Arabia and other Gulf Cooperation Council countries. (January 27, 2013)