Sipchem invests over SR 150 million in a new center for Research and Development

04-Aug-11

The Saudi International Petrochemical Company (Sipchem) announced that it has spent over SR150 mln to construct its corporate Research and Product & Application Center - at the Dhahran Techno Valley (DTV) of King Fahd University of Petroleum and Minerals (KFUPM). Sipchem has previously signed a memorandum of understanding with the Ministry of Petroleum and Minerals and King Fahd University of Petroleum and Minerals for the establishment of the center on a 15000 square meters area at DTV. Based on this memorandum Sipchem shall construct, manage and operate this center. Sipchem has already started the construction of the center at the site. The center has been designed on the most modern building designs that contain state-of-the-art laboratories and equipment with the objective of developing the usage of polymer products and the downstream industries in the Kingdom which currently include more than 860 plants. The company targets to start operation of the center in the middle of 2012. The center will work in close coordination with various organizations in the King Fahd University of Petroleum and Minerals and with an objective to render science and technology and chemistry and polymers technology handy to everybody school and university students in particular, to make them aware of the importance of polymers and chemical industries and the job opportunities that these industries may create. To build the knowledge economy that the Kingdom strives to achieve, it is necessary that that the Saudi youth, men and women alike, be trained and enlightened on scientific, research and engineering aspects and this is the role that the Sipchem center is expected to play. The center is expected to concentrate its research on the basic usage of the films which are used in the production of solar cells and thin sheets for agricultural usages, flexible pipes necessary for wooden and paper industries, dyes and electric cables including fiber optic cables and other products that support the national program for the development of industrial complexes. The center will also contribute to enhancing the cooperation in the field of research through the use of laboratories, equipment and the exchange of experiences between the university and other research centers in the Kingdom and Sipchem organization.