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Jubail and Ras Al Khair projects draw SAR 418 billion investments
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Tuesday, 20 Nov 2012
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Arab News reported that Prince Saud bin Abdullah bin Thunayan, chairman of the Royal Commission for Jubail and Yanbu highlighted the Kingdom's industrial progress and said that we are currently witnessing an industrial boom.

He said that total investment in Jubail and Ras Al Khair reached more than SAR 418 billion in 365 projects. He praised Custodian of the Two Holy Mosques King Abdullah's support to the industrial cities of Jubail and Yanbu. King Abdullah laid the foundation for Jubail-2 industrial city in 2004.

The Royal Commission signed an agreement with Sadara to establish a SAR 75 billion petrochemical complex which will have 26 factories with total capacity of 5 million tons to produce 48 products.

According to another agreement, Saudi Arabian Railway will establish 85 kilometers rail link between Jubail and Ras Al Khair to facilitate exports. The ceremony was attended by Mr Khalid Al Falih president & CEO of Saudi Aramco, Mr Muhammad Al-Madhi VP of SABIC and other senior officials.

Meanwhile, the 10th SABIC Technical and Innovation Meeting inaugurated on Monday highlights the importance of investing in technology and promoting innovation. Held with the support of Prince Saud, who is also the chairman of SABIC, the event was officially opened by Mr Mohamed Al Mady vice chairman and CEO of SABIC.

The exhibition has brought together around 200 exhibitors from 22 countries, counting with the presence of industry leaders in a wide variety of fields where innovation plays a key role such as in: Asset management, electrical & control systems, fertilizers, chemicals, construction, environment, health and safety (HSE), quality assurance, analytical research and automation. The event will end today.

Mr Al Mady highlighted the importance of investing in technology innovation centers and research that ultimately help deliver innovative and sustainable solutions for customers. This year's exhibition will demonstrate innovation as a tool to turn ideas into profitable products and services. Innovations that matter is the theme of this year's STIM-10 and this reflects the importance of investing in the ideas of scientists and researchers to deliver ingenious solutions to our customers.

He also highlighted that this year's exhibition has witnessed a larger participation of exhibitors from global companies which demonstrates how the STIM-10 exhibition and meeting are turning into a global specialized platform for collaborating and sharing ideas and knowledge.

Mr Al Mady said that SABIC has sought, since its very establishment to localize technology and spur innovation in Saudi Arabia and beyond. The company has made considerable efforts in inspiring its employees to continue to search for and present new ideas in the form of diverse programs and initiatives adopted by the company.

Source - Arab News

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