SABIC Invests US$100 Million Into New R&D Hub In Shanghai, China
Tech & Pharma
April 9, 2012
Saudi Basic Industries Corporation will invest US$100 million into a new research & development hub in Kangqiao, east of Shanghai, China.
AsianScientist (Apr. 9, 2012) – Saudi Basic Industries Corporation (SABIC) announced this Friday a US$100 million investment to build a 60,000 square meter new Technology Center in Kangqiao, east of Shanghai, China.
The center, which will be completed in 2013 and house some 400 employees, will include over 200 scientists and engineers who will focus on advanced engineering plastics materials for automotive, personal electronics, IT, alternative energy, building and constructions, and infrastructure applications.
A new feature of the center includes the China Automotive Innovation Hub to drive next generation materials solutions.
Investment of the center was announced in May 2011, and the ground-breaking ceremony on Friday was officiated by SABIC leaders His Highness Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu, and Chairman of SABIC; Mohamed Al-Mady, SABIC Vice Chairman and CEO.
Guests-of-Honor at the event were Mr. Xu Lin, Member of The Standing Committee of CPC Shanghai Committee, and Party Secretary of Shanghai Pudong New Area; Madam Liu Zhengyi, Deputy Governor of Shanghai Pudong New Area; and His Excellency Yahya Alzaid, Ambassador of the Kingdom of Saudi Arabia in China.
“Material sustainability is key to the creation of new applications across industries. With the new technology center, SABIC brings to China its global expertise and experience in petrochemical research and production helping enterprises create new possibilities in the design of products for local and global markets,” said Prince Saud.
With environmental sustainability in mind, SABIC intends to build the center with the highest global green standards in line with the guidance by the Leadership in Energy and Environment Design (LEED) Gold Certification.
“A cornerstone of sustainable development in China’s next phase of growth is the ability of local industries to become innovation powerhouses on the global stage. SABIC has the ambition to deliver long term success for our stakeholders,” said Ernesto Occhiello, SABIC Executive Vice President of Technology and Innovation.
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