20 December 2013 07:28 [Source: ICIS news]
KARACHI (ICIS)--Saudi Basic Industries Corporation (Sabic) has opened its new Saudi riyal (SR) 472m ($126m) plastics application research facility at the Riyadh Techno Valley in King Saud University, the company said in a statement issued late on Thursday.
Sabic, the world's biggest petrochemicals group by market value, said the new Plastics Application Development Center (SPADC) will have over 200 scientists, engineers and technicians working there.
“SPADC’s role will be to introduce innovative plastics solutions to Saudi Arabia’s entrepreneurs, delivering new applications for businesses,” Mohamed Al-Mady, Sabic vice chairman and CEO, said.
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