Sabic Signs Agreements to Transfer Expertise to Saudi Companies
Sabic signed three cooperation agreements with the Ministry of Health and King Faisal Specialist Hospital and Research Center. This happened on the sidelines of the “Global Health Forum 2023” held under the theme “Invest in Health” from October 29 to October 31 2023.
Enhancing Saudi Sectors
Abdulaziz bin Ali Al-Oudan, Sabic’s Executive Vice President of Shared Services, stated these agreements aim to transfer expertise to Saudi national companies. This will contribute to the development of various sectors in the Kingdom.
Naif Al-Ayed, Vice President of Local Content and Business Development at Sabic, mentioned that the company’s national initiative (Nusaned TM) seeks to achieve the goals of Saudi Vision 2030.
The agreements reflect the company’s commitment to enhancing local content and supporting national industries and local manufacturers, especially in the healthcare sector, a key focus area for Sabic’s solutions.
Sabic at Glance
Since its establishment in 1976 through a royal decree, Sabic has consistently achieved what others deemed impossible.
As one of the largest petrochemical manufacturers globally, the company is a publicly listed company headquartered in Riyadh, Saudi Arabia. Saudi Aramco holds 70% of its shares, while the remaining 30% are traded on the Saudi stock exchange. The company’s expansion has been extraordinary. Presently, it operates in about 50 countries and employs a skilled workforce exceeding 31,000.
Sabic functions via three Strategic Business Units: Petrochemicals, Agri-Nutrients, and Specialties, along with a separate entity, Metals (Hadeed). These units assist clients by pinpointing and cultivating opportunities in crucial end markets, including construction, medical devices, packaging, agriculture nutrients, electrical and electronics, transportation, and renewable energy.
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