SAIIC appoints former SABIC exec as CEO

03/09/2015 Argaam

Saudi Arabian Industrial Investments Co. (SAIIC) has named former Saudi Basic Industries Corp. (SABIC) executive Rasheed M. Al-Shubaili as CEO, the company said in a statement.

 

Al-Shubaili, who took on his new role on September 1, has more than 20 years of related industrial experience. He holds an MBA from the University of Houston and a Bachelor’s of Science in electrical engineering from King Fahd University of Petroleum and Minerals.

 

SAIIC was established in 2014 with SAR 2 billion in capital. It is 50 percent owned by the Saudi Arabian Public Investment Fund (PIF), and Saudi Aramco and SABIC, which each own a 25 percent stake.

 

SAIIC specializes in downstream industrial investments as it aims to help diversify the kingdom’s oil-dependent economy.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.