SABIC announces catalyst project in first package of Shareek program

Agreements signing ceremony

Saudi Basic Industries Co. (SABIC) presented a strategic project for the catalyst industry to transform Saudi Arabia into a hub for the specialty materials industry.

This took place during the Shareek program ceremony in Riyadh, on March 1, to announce the first wave of major projects in the Kingdom.

In a panel discussion that included CEOs of major companies in the Kingdom, SABIC’s Executive Vice President, Petrochemicals, Acting CEO Abdulrahman Al-Fageeh said that the catalyst industry is the cornerstone of the energy and petrochemical industry.

He added it plays a role in accelerating the transfer and localization of modern and advanced technologies in the petrochemical industry, which contributes to raising energy efficiency and reaching carbon neutrality, which SABIC aims to achieve by 2050.

Al-Fageeh added that despite Saudi Arabia's leadership in the energy and petrochemical industry, the Kingdom relies heavily on importing catalysts, which increases the risk of continuity of operations if supply chains are affected.

SABIC's investment in the catalyst industry will help meet the needs of the company and petrochemical manufacturers in the region.

The company’s strategy is based on acquiring the latest technologies and the necessary knowledge, then localizing the manufacturing and developing of these technologies by establishing a platform for various catalysts in two phases.

SABIC fully acquired Scientific Design Co. last year as a first step to secure one of its most important catalysts for glycol.

The Tadawul-listed firm then began construction of the first phase of the catalyst platform to include three catalysts manufacturing plants used in the polymer and chemical industry, in addition to collaborating with the Shareek program to identify the most important enablers and incentives.