Corrected: Saudi Arabia's SABIC interested in India petchem collaboration

16 March 2012 16:27  [Source: ICIS news]

Correction: In the ICIS story headlined " Saudi Arabia's SABIC interested in India petchem collaboration" dated 16 March 2012, please read in the second paragraph ... executive adviser ... instead of ... executive director .... A corrected story follows, with recasts on the third paragraph.

GURGAON, India (ICIS)--Saudi Arabia's SABIC is interested in collaborating with India's petrochemical industry and government to participate in the country's growth agenda, a senior official at the company said on Friday.

"Many emerging economies will find SABIC the right partner for growth and we are ourselves the product of an emerging economy," said Henry Wang, the petrochemical major's executive adviser for corporate strategy and planning, at a petrochemical conclave organised by Indian Oil in Gurgaon.

SABIC’s Asia regional headquarters is in Singapore. But Janardhanan Ramanujalu, who heads SABIC’s South Asia and Australia operations, is currently based in New Delhi to accelerate the company’s growth plans in India. The company’s South Asia operations include India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

"We create a win-win partnership with all our strategic partners globally," Wang said.

Wang's statements are in line with SABIC vice-chairman and CEO Mohammed Al-Mady's own views on investing in countries where there are good growth prospects and where the company can add value.

By: Prema Viswanathan
+65 6780 4359

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