SABIC Targets ‘Innovation And Ingenuity’

Leaders of Saudi petrochems giant SABIC see innovation and ingenuity as the keys to maintaining a competitive edge. “Only by developing and ingeniously applying new technologies to solve real business challenges [can] SABIC achieve its ambitious goals,” says Chairman Prince Saud bin Thenayan al-Saud in the company’s 2013 Annual Report.

SABIC is investing $500mn on “a global network of technology and innovation centers… [to] provide focal points for customer collaboration.”

The four centers established last year, two in Saudi Arabia and one each in India and China, bringing its global total to 18, are “a solid foundation for our 2025 strategy,” CEO Muhammad al-Mady says. (CONTINUED - 268 WORDS)