Prince Saud Bin Abdullah Bin Thunayan, Chairman of Royal Commission for Jubail and Yanbu and Chairman of Board of Directors of Saudi Basic Industries Corporation (SABIC), views a model of the Corporation's $100 million Technical Center after its inauguration in Shanghai on Monday. The opening ceremony was attended by Saudi Ambassador to China Engineer Yahya Bin Abdulkarim Al-Zaid and Vice President of SABIC Board of Directors and Chief Executive Officer Engineer Mohammed Bin Hamad Al-Madhi. — SPA SHANGHAI – Prince Saud Bin Abdullah Bin Thunayan, Chairman of SABIC and Chairman of the Royal Commission for Jubail & Yanbu, officially opened the company's state-of-the-art SABIC Technology Center (STC) in Shanghai, China, on Monday in a ceremony which marks another significant milestone for SABIC in China. The center, built with an initial investment of $100 million, is one of 17 SABIC global R&D centers of excellence. The 60,000 sqm state-of-the-art complex houses close to 500 employees, including 170 application development and materials technologists. It also serves as the new Greater China head office for all Shanghai-based employees including R&D and supporting functions. “SABIC is a company grounded in developing material solutions and has innovation, ingenuity and collaboration at its core, helping us to achieve a deeper understanding of our customers and their business. SABIC is committed to being an inclusive growth partner in the markets we operate in,” said Mohammed Bin Hamad Al-Madhi, Vice Chairman and CEO, SABIC. The new STC in Shanghai will be leading the development for portable consumer electronics, working closely with OEMs across the globe. It will also focus on developing next-generation innovative technologies and solutions to help customers address some of the most pressing issues in China and the region across major industry sectors including Construction, Clean Energy, Electrics and Electronics, Medical Devices, Transportation. The overall R&D focus at the STC in Shanghai will be on meeting the needs of our customers in the Greater China and North East Asia. Ernesto Occhiello, SABIC's Executive Vice President, Technology and Innovation, said: “We are gathering some of the best and brightest talent from China to shape the future of our R&D efforts. This center hosts a critical mass of professionals and is an indication of SABIC's commitment to be the preferred technology partner for our China customers as well as the employer of choice for the best talent.” SABIC is also continuing to strengthen its technology and innovation leadership in China and the region by deepening its academic partnerships in China. SABIC will sign a new agreement with its partner of almost two years, Dalian Institute of Chemical Physics (DICP), to research and develop advanced processing technologies to produce chemicals from alternative feedstock. The project is part of SABIC's broader strategy of developing next-generation technologies to drive the future of its business and contribute to customers' success. As part of the agreement, SABIC will be an active participant to the DICP community, deploying scientists or assignment and contributing with funding for academic activities. Furthermore, it will bolster its sponsored research primarily regarding the conversion of fossil feedstock to chemicals. The center significantly enhance SABIC's R&D footprint in Asia, building on the existing infrastructure of its application centers – one in Moka, Japan, and the other in Sungnam, South Korea. – SG
