"This facility is a testament to the Kingdom's great support in developing sustainable growth in all business sectors, said Prince Saud Bin Abdullah Bin Thunayan Al-Saud, who is chairman of both SABIC and the Royal Commission of Jubail and Yanbu. "Technology, innovation and sustainability are at the core of SABIC, and remain among its top priorities."
"SABIC has invested greatly in industrial and academic development in the Kingdom and abroad, he said, adding that SPADC is a great example of SABIC's commitment to finding sustainable solutions that will lead to a brighter and more prosperous future.
SPADC, which was inaugurated on Thursday, has been active working on developing cost-effective, light-weight and environmentally-friendly plastic products for their customers across the globe.
Examples of the innovations that SPADC has arrived at include a plastic product that is as transparent as glass, but 200 times stronger; food packaging solutions that preserve contents more efficiently; and light-weight, but sturdy and dependable components for commercial motor vehicles. "In only 37 years, SABIC has become one of the most accomplished enterprises in the world, recognized as innovators in the fields of plastics, petrochemicals, and chemistry, said SABIC's CEO Mohammed Al-Mady at the inauguration ceremony.
"This initiative is a step forward in promoting innovation as an important goal for SABIC, and a fundamental element of our business.
"Our plans call for further strengthening our innovation footprint. "We have just set up a new research facility at the King Abdullah University of Science and Technology (KAUST); and we now have about 2,000 researchers worldwide, with the number growing rapidly.
"These facilities are focussed on developing innovation strategies that will help the company deliver strong business results.
Research and innovation are reported as the core of SPADC, which is in alignment with the Kingdom's industrial, economic, and academic aspirations, and promotes greater collaboration between SABIC and academic institutions nationwide.
KSU's Rector, Dr. Badran Al-Omar called the center the culmination of advancements in the Kingdom's industrial and academic fields, and a result of the Kingdom's strong dedication in complying with Kind Abdullah's vision of a knowledge-based economy, driven by research, innovation, and sustainable development.
"Industries cannot survive solely on capital and large factories, he said. "Innovation is the driving force behind all industries, and is a result of rigorous research and study around the cutting-edge, pushing the boundaries of what is expected.
"SABIC has been a major contributor in promoting research and advancement in the Saudi marketplace, and along with KSU, we are devoted to realizing the Kingdom's vision for a knowledge-based economy through initiatives such as Riyadh Techno Valley.
SABIC has reported that SPADC will establish itself over time as a home of innovation, which will act as a meeting ground for collaborations between specifiers, customers, businessmen, and academics to create growing opportunities in fields such as consumer goods and construction materials.
Source: Daily "Saudi Gazette", Riyadh; 19 Dec 2013
(Syed Rashid Ali, Karachi, Pakistan)