Saudi petrochemical giant to set up centres in Bangalore, India
DUBAI (Bernama) – A major Saudi petrochemical company has unveiled plans to launch four new state-of-the-art technology and innovation facilities in 2013, two of them in the emerging economies of India and China, Press Trust of India reported.
Saudi Basic Industries Corporation (SABIC) will launch its new centres in Bangalore and Shanghai to host around 500 professionals, the company said in a statement.
Two other new centres will be based in Saudi Arabia itself and will take the total number of the company’s research facilities around the world to 18.
The four new centres represent a strategic investment of around half a billion US dollars to continuously improve technology, applications and solutions and meet the needs of an increasingly sophisticated marketplace, as well as address a wide variety of sustainability issues.
Mohamed Al-Mady, SABIC Vice Chairman and CEO, said by continuing to invest in technology and innovation, SABIC is driving ingenuity forward to meet specific needs of customers as well as society.
The Bangalore research centre is scheduled to open in the second quarter of 2013.