Sipchem spends $40m to build research centre in Saudi Arabia

25 July 2011 08:02  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi International Petrochemical Co (Sipchem) has spent over Saudi riyal (SR) 150m ($40m) to build a research and product & application centre at King Fahd University of Petroleum and Minerals’ Dhahran Techno Valley in Saudi Arabia, the company said on Monday.

Sipchem has already started building the centre, which will develop the usage of polymer products and other downstream industries in Saudi Arabia, Sipchem said in a statement.

Sipchem expects to start operations at the centre in the middle of 2012, it said.

The centre is expected to concentrate its research on the basic usage of the films which are used in the production of solar cells, flexible pipes necessary for wooden and paper industries, dyes and electric cables as well as other products that support the national programme for the development of industrial complexes, the statement added.

($1 = SR3.75)

By: Nurluqman Suratman

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