Within Tasheel program held by Asharqia Chamber yesterday: "Sadara" offers more than 20 investment opportunities to investors ranging from US $ 50 million to US $ 500 million.
Al-Khalidi: The program aims at activating the investment movement through achieving direct communication between the company and the business sector.
Al-fakeer: The company plays its role in adding a new series of added values to the manufacturing industries.
The meeting was attended by Eng. Hussain bin Issa Al Quraishi, Senior Officer of Chemical Industries Investments at the Pluskim Industrial Complex, Engineer Mohammed Bin Saleh Al Zahrani, Director of Industrial Investment Development at Royal Commission for Jubail City, and Anwar Fakhir Al Harz, Director of Investors' Accounts and Consultancy at the General Authority for Investment.
The company «Sadara» chemicals offers more than 20 investment opportunities to local investors, as the size of the investment opportunity range between 50 million to 500 million dollars, which was announced during Tasheel program at its fifth session, which is one of the initiatives of Asharqia Chamber of Business in supporting the region that was held at its headquarter on Tuesday March 12, 2019.
For his part, the Chairman of the Board of Directors of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khalidi, said that the program aims at activating the investment movement in the region by achieving direct communication between the company and the business sector of local manufacturers and traders in the Eastern Province.
He pointed to the importance of the program, which comes from the fact that it enriches the economic movement in the region with more investment opportunities for the business sector, especially the owners of small and medium enterprises, which is in line with the goals and aspirations of the Vision of the Kingdom 2030, which was launched to diversify the base of the national economy and increase national non-oil investments and the resettlement of supporting industries.
Al-Khalidi pointed out that Asharqia Chamber seeks to launch the fifth session of the program «Tasheel» by believing in the ability of local investors to engage in the implementation of the work of these major companies according to its required standards, and meet the aspirations of the business sector through providing innovative services and innovative tools that will stimulate investment, and ensuring sustainable development and growth through optimal investment of available resources.
Al-Khalidi pointed out that Sadara, which is the largest integrated chemical complex in the world to be built in one phase, presents their investment opportunities to local investors in addition to the statement of procedures in the registration and qualification of suppliers.
It also held direct meetings with local companies and factories, which represents strong support for the investment movement in the eastern region and aims at the goal of our country from the settlement of industries of all kinds,
He said, "We hope that this session of the program will contribute to increasing the rate of economic movement in the region."
The CEO of Sadara Chemicals Company, Dr. Faisal bin Mohammed Al Fakeer, said that the company is currently the largest foreign investment in the petrochemical industry in the Kingdom.
Its largest chemical complex, the world's largest integrated one-phase complex, is expected to produce more than three million metric tons per year of high-value chemical and plastic products.
The success of the company in the safe operation of its entire 26 chemical compound plants is just the beginning of its journey to put its distinctive mark on the map of the chemical industries in the Kingdom and the world.
He added that this strategic objective is already underway in October 2011 when the agreement was signed by the two leading companies, Saudi Aramco and Dow Chemical, where they shared values and vision converged to achieve this strategic objective.
He explained that the complex will contribute significantly to support the industrial and economic diversification in the Kingdom by providing many investment opportunities in the manufacturing industries in the complex of chemical and transfer industries "Pluskim" adjacent to the complex in the city of Jubail Industrial II, which will attracting more foreign and domestic investments to the Kingdom by creating thousands of distinct jobs for citizens.
It is a leader in the addition of a new series of added value to manufacturing industries.
Fourteen of its 26 factories offer products that are manufactured for the first time in Saudi Arabia.
For example, Sadara established the first factories in the Kingdom were established to produce isocyanates and polyurethanes (polyurethanes), which will contribute to the manufacture of many products do not currently exist in the Kingdom or are only available through the importation of the raw materials necessary for their manufacture.
Al-Fakeer said that the success process could only have continued with the integration and cooperation of all parties including the Royal Commission for Jubail and Yanbu, which did not spare any effort to reach Jubail Industrial City to be among the best industrial cities in the world, and help in the development of the complex of chemical and transformational industries "Pluskim", which provides the advantage of easy access to raw materials from industries in the industrial city, and provide them with a strong infrastructure, which is equipped according to international standards.
I would also like to pay tribute to the great role played by all other relevant governmental bodies, including the General Authority for Investment and the Saudi Industrial Development Fund, in addition to the great efforts they are making to create a stimulating and sustainable investment environment to contribute effectively to support the industrial and economic diversity in the Kingdom, and to provide services and facilities for investors to improve the investment climate in the Kingdom.
For his part, a member of the Board of Directors and the Chairman of the Industry and Energy Committee, Ibrahim bin Mohammed Al-Sheikh, said that the Chamber launched in mid-April 2017 its program «Tasheel» to keep pace with the Vision of the Kingdom 2030 to stimulate domestic investment and enhance its role in the national economy in order to complement the Chamber's contribution to the business sector in the Eastern Region by enabling local producers and suppliers to explore investment opportunities in major strategic companies.
Al-Shaikh affirmed that the meeting of the company is a continuation of the vision and message of the program «Tasheel » in enhancing the opportunities of the local component of strategic projects by offering the procurement and supply opportunities between the two parties of the national investment, the large companies by the business sector on the other hand and then facilitate the procedures of direct contracting between them.
In conclusion, the Chairman of the Board of Directors of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khalidi, honored the CEO of Sadara Chemicals Company, Faisal bin Mohammed Al Fakeer, with a memorial shield.
Al-Khalidi also honored a commemorative shield from Al-Fakeer.