TAGS: Sustainability / Natural Solutions
SABIC participates in a ceremony held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz, crown prince and prime minister, to announce the first package of Shareek projects involving large companies in Saudi Arabia.
Project In-line with National Industry Strategy
During the ceremony, SABIC announced a strategic project to manufacture catalysts with the aim of transforming Saudi Arabia into a manufacturing hub for specialized 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 localization. To this end, SABIC has set a two-stage approach.
Catalysts for Polymers & Chemicals Manufacturing
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 is collaborating with Shareek to identify the most important enablers and drivers to build the catalyst industry in the Kingdom.
Al-Fageeh participated in a panel discussion with the CEOs of large companies in Saudi Arabia, where he stressed that the catalyst industry is the cornerstone of the energy and petrochemical industries. He highlighted its key role in accelerating the transfer and localization of modern and advanced technologies in the petrochemical industry. This would contribute to raising energy efficiency and helping SABIC reach its carbon neutrality targets by 2050.
Al-Fageeh added that despite the Saudi leadership in the energy and petrochemical industries, the Kingdom relies, to a large extent, on catalyst imports, which increases operational risks in the event of any supply chain disruption. “
SABIC's investment in catalysts will contribute to securing our needs and that of the petrochemical manufacturers in the region.”
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Source: SABIC