Riyadh – Mubasher: Saudi Arabia’s giant petrochemical producer SABIC plans to begin investments worth SAR 14 billion next May, a local gazette cited a senior official as saying.
Deputy Chairman and CEO Yousef Abdullah Al-Bonyan told Al-Youm newspaper that his company seeks through its strategy to boost manufacturing industries, but does not intend to enter such a field as its role would be limited to support. He also stressed that there is coordination in terms of strategies between SABIC and the country.
China is a key market for SABIC as it includes various investment opportunities, said Al-Bounyan, adding that it would be among the markets of interest for his company in the coming period.
The CEO was cited earlier as saying that SABIC eyed investments worth SAR 2 billion in initiatives to support SMEs, in addition to other SAR 2 billion in oil and gas, marine transport, transport and power sectors.
