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Oil, Gas, Petrochemical Industry News
News Release from: SABIC
Edited by the Processingtalk Editorial
Team on 25 April 2006
Chinese President visits SABIC
As part of his official visit to the Kingdom of Saudi Arabia, the President of the People's Republic of China, His Excellency Hu Jintao, recently paid a visit to the SABIC headquarters in Riyadh
As part of his official visit to the Kingdom of Saudi Arabia, the President of the People's Republic of China, His Excellency Hu Jintao, paid a visit to the SABIC headquarters in Riyadh where he was received by His Highness Prince Saud bin Thunayan Al-Saud, Chairman, Royal Commission for Jubail and Yanbu and Chairman, Saudi Basic Industries Corporation (SABIC), Mr Mohamed Al-Mady, SABIC Vice Chairman and CEO and other executive management President Hu was briefed on the industrial progress achieved by the Kingdom
This article was originally published on Processingtalk on 18 Jul 2003 at 8.00am (UK)
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He viewed a film on SABIC achievements, strategic plans and foreign investment trends, especially in China.
The President visited the SABIC 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.
In his welcoming speech, Prince Saud bin Thunayan Al-Saud praised the strong and ever growing political, economic and technological relations between the two countries.
He praised President Hu's astute leadership and the robust economic growth in China.
Mr Al-Mady highlighted SABIC 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 fertilisers, synthetic fibres, 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 the SABIC point of view.
As the Kingdom's leading company, we would continue to foster close commercial relations with China".
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