Petchem firm Sabic recently participated in a ceremony to announce the first package of Shareek projects involving large companies in Saudi Arabia. The event was held in the presence of several dignitaries, senior businessmen and heads of major companies participating in the program.
Shareek was launched in March 2021 by the Crown Prince to enhance partnership with the private sector, develop partnership between the public and private sectors, and support sustainable growth to build the national economy.
During the ceremony, Sabic announced a strategic project to manufacture catalysts, aiming to transform Saudi Arabia into a manufacturing hub for specialised materials in line with the national industrial strategy.
The project will contribute to industrial advancements as envisioned in Saudi Vision 2030, including improving competitiveness of the energy sector, developing industries associated with the oil-and-gas industries, and raising the level of local content in this area.
Sabic’s strategy for manufacturing catalysts is based on knowledge acquisition, applying the latest technologies and making improvements to them before localisation.
To this end, the company has set a two-stage approach. The first is to fully acquire Scientific Design, which was done last year, and secure a key catalyst used by Sabic for the glycol manufacturing.
The second is to take the first phase forward with three new plants for the catalysts used in the manufacture of polymers and chemicals. Moreover, Sabic says it is collaborating with Shareek to identify the most important enablers and drivers to build the catalyst industry in Saudi Arabia.