Chief Executive Officer: SABIC is ready to promote the electric car industry

25 10 2018

1.6 billion to establish silicon production plants

Vice President and CEO, Yousuf bin Abdullah Al-Bunyan, affirmed that SABIC was ready to play a key role in promoting the electric automotive sector, by developing lighter and more robust materials for planes, trains and cars, and producing advanced fertilizers increasing the quantities of crops without the need for development. In the agricultural field.

"SABIC plays a major role in managing investments to reduce risk and enhance growth opportunities for investors in the Kingdom and abroad," he said.

"We are proud to demonstrate SABIC's commitment and strong achievements in strategic partnerships with related parties around the world, exceeding investor expectations and offering opportunities," said Al Bunyan at the company's annual meeting. 39, a seminar on "Leading the Fourth Industrial Revolution".

On the other hand, SABIC signed two protocols with the German companies Schmid and Riwaq for industrial development to set up an industrial project for a cost of 1.6 billion RS.

The two memoranda aim at establishing modern facilities in the industrial city of Jubail to produce silicon used for the manufacture of semiconductors, electronic components and solar cell alloys, as well as for the manufacture of vanadium batteries. intended for the storage of renewable energy.