Riyadh , Asharq Al-Awsat- As part of his official visit to the Kingdom of Saudi Arabia, the President of the People’s Republic of China Hu Jintao, paid a visit to SABIC Headquarters in Riyadh where he was received by Prince Saud bin Thunayan Al-Saud, Chairman of Saudi Basic Industries Corporation (SABIC), Mr. Mohamed Al-Mady , SABIC’s Vice Chairman and CEO and other executive management.
President Hu was briefed on the industrial progress achieved by the Kingdom. He viewed a film on SABIC’s achievements, strategic plans and foreign investment trends, especially in China. The President visited SABIC’s permanent exhibition, which showcases the company’s historical progress, its product range, manufacturing complexes and highlights its contribution to the industrial, agricultural and construction sectors.
Al-Mady highlighted SABIC’s growth and explained how the company has become one of the world’s top ten petrochemical companies and number one in terms of profits and sales growth. SABIC aspires to become one of the world’s leading petrochemical companies.
Al-Mady said “SABIC praises the economic development in China . SABIC is proud to have entered the Chinese marketplace at an early stage. Since the 1980s, SABIC has been supplying fertilizers, synthetic fibers, iron, steel and plastic products to Chinese customers. We will reinforce our presence in China by establishing mega industrial projects. The Chinese market is a key strategic global petrochemical market from SABIC’s point of view. As the Kingdom’s leading company, we would continue to foster close commercial relations with China “.