SABIC chief hails China as he opens offices

23 May 2007 12:25  [Source: ICIS news]

LONDON (ICIS news)--Saudi Basic Industries Corp’s (SABIC) two new offices in China were officially opened on Wednesday as the company’s chairman said it is the firm's most important export market, adding new petrochemical capacity over the next three years will be allocated to the Asian region.

"China is currently SABIC's most strategically important export market globally and is also the fastest growing polymers market in the world,” said SABIC chairman Prince Saud bin Abdullah bin Thenayan al-Saud.

He added that the two offices, in Beijing and Shenzhen, reflected the company’s commitment to long-term growth and future prospects in China.

“Over the next three years most of SABIC’s new petrochemical capacity will be allocated to the rapidly expanding Asian markets, of which China is the most important," he said.

“Asia is a region where SABIC not only wants to supply products but is also a region that SABIC regards as a strategically important location for future manufacturing of its products,” he added.

In addition to the new offices in China, warehousing and storage units in Shanghai and Hong Kong had been joined by new facilities in Huangpu and Tianjin, said the company.

A new bonded liquid chemicals tank in Zhangjiagang is scheduled to open soon and more warehousing and storage facilities are planned in Qingdao, Ningbo and Yantian.

SABIC has 11 offices in eight countries in the Asia-Pacific region.

By: Hilde Ovrebekk
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly