Saudi Basic Industries Corporation (SABIC)
Friday, November 29, 2013 04:30 PM IST (11:00 AM GMT)
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SABIC Reaffirms Commitment to India and Innovation; HH Prince Saud Inaugurates a Major New Technology Center in Bengaluru
Bangalore, Karnataka, India, Friday, November 29, 2013 — (Business Wire India) — Prince Saud bin Abdullah bin Thenayan Al-Saud, 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 Bengaluru, India today in a ceremony which marks a significant milestone for SABIC in India. The center, built with an initial investment of US$ 100 million, is one of 17 SABIC global R&D centers of excellence. The STC, with an area of 187,000 sqm, is home to over 300 scientists from India – a critical mass of some of the best and brightest talent from this vibrant country.
In welcoming the state Governor, Government Ministers, state and national government officials to the inaugural event, Prince Saud thanked all for their efforts in helping create a cutting-edge research facility in Bengaluru and said, “We are extremely proud to be here, in a city that is a world-renowned center for technology in India. Saudi Arabia and India have a long history of deep relationships. We believe in the future of India – a rapidly developing nation where partnership and inclusive development is a priority. India is an important market for us in Asia, which is why our investment here is significant.”
From SABIC’s perspective, the key to success here involves partnership and cooperation among governments, scientists and the business sector to promote science, technology and innovation. Today, we are joined by our valued customers and business partners to achieve long term success.
Echoing Prince Saud’s comments, Mohamed Al-Mady, Vice Chairman and CEO said, “SABIC as a company grounded in developing material solutions has innovation, ingenuity and collaboration at its core, helping us to achieve a deeper understanding of our customers and their business. This major center in Bengaluru is an integral part of our global R&D strategy. In this center the scientists here are carrying out cutting-edge research into new platforms for next-generation materials across industry sectors including Construction, Clean Energy, Electrics and Electronics, Medical Devices, Transportation. Other initiatives include designing greener building materials to reduce environmental footprints and developing eco-friendly products in response to global megatrends and needs.”
The inauguration ceremony was presided over by Chief Guest, Governor of Karnataka, Dr. Hans Raj Bhardwaj and also Guests of Honor – Honorable Union Minister of Minority Affairs Shri K Rahman Khan, and Honorable Minister of State (Independent Charge) Shri Srikant Kumar Jena, Ministry of Chemicals & Fertilizers; Statistics & Programme Implementation, Government of India, along with several senior government officials, customers, academia, business partners, and employees.
Speaking at the event, Honourable Minister of State (Independent Charge) Shri Srikant Kumar Jena, Ministry of Chemicals & Fertilizers; Statistics & Programme Implementation Government of India, said, “SABIC’s investment in Bengaluru further strengthens the long standing relations between Saudi Arabia and India, and we welcome more partnerships from other companies from the Kingdom.”
The STC Bengaluru – Innovating for tomorrow’s needs
Alongside another technology center slated to open in China in early December, the Bengaluru facility builds on SABIC’s two existing dedicated application centers in the region – one in Moka, Japan, and the other in Sungnam, South Korea. With these centers, SABIC has 17 Technology & Innovation facilities globally including its centers in Saudi Arabia, the USA, the Netherlands and Spain.
Ernesto Occhiello, SABIC’s Executive Vice President, Technology and Innovation, said: “We are gathering some of the best and brightest talent from India to shape the future of our R&D efforts. Both centers together host a critical mass of professionals and are an indication of SABIC’s commitment to be the preferred technology partner for Asian customers as well as the employer of choice for the best talent from the region.”
Janardhanan Ramanujalu, Vice President, SABIC South Asia & ANZ said: “The launch of the SABIC Technology Center in Bengaluru is a clear reflection of SABIC’s commitment to India, and is a very important milestone for us. The center will therefore play a pivotal role in delivering innovative products and solutions, while harnessing local talent coupled with the infusion of hi-tech local expertise and knowledge into the country, including scientists and engineers who are returning from overseas.”
Commitment to Sustainability and the environment
The STC in Bengaluru is also designed with a strong environmental and sustainable ethos and a zero-discharge facility. The energy and water consumption of the facility will be minimized. SABIC is also firmly committed to – and is already supporting – several community and CSR initiatives around the STC. Key projects undertaken include the Hosahalli Lake restoration project, reconstruction of Hosahalli Government School, a Community Resource Center in Hosahalli Village and bus shelters around the vicinity.
Notes to Editor
— SABIC should be written in every instance in all uppercase.
Saudi Basic Industries Corporation (SABIC) ranks among the world’s top petrochemical companies. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
SABIC recorded a net profit of SR 24.72 billion (US$ 6.59 billion) in 2012. Sales revenues for 2012 totaled SR 189 billion (US$ 50.40 billion). Total assets stood at SR 338 billion (US$ 90.13 billion) at the end of 2012.
SABIC’s businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 17dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India, China and South Korea. The company operates in more than 40 countries across the world with around 40,000 employees worldwide.
SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific.
Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 per cent of SABIC shares with the remaining 30 per cent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.
About SABIC Asia
Established since 1980, SABIC Asia has over 40 offices and more than 2,400 employees across the region. With 9 manufacturing and compounding sites in China, India, Japan, Korea, Malaysia, Singapore and Thailand, SABIC constantly strives to better serve our customers in the Asian region. A leading global organization in research and technology, we have two Application Centers in Japan and Korea and two new Technology Centers in Bengaluru, India and Shanghai, China. Today, Asia is SABIC’s fastest growing region globally with strong double digit growth.
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SABIC Technology Center in Bengaluru, India is inaugurated on 29 November 2013
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SABIC Technology Center in Bengaluru, India is inaugurated on 29 November 2013
Lili Koh, Director, Corporate Communications Asia, Saudi Basic Industries Corporation (SABIC), +65-6531-8239, email@example.com
Mahesh Nair, Deputy General Manager, Operations, Weber Shandwick, Bengaluru, +91 9880376648, Mnair@webershandwick.com