NUSANED™ SIGNS 3 MOU’S AT Future Investment Initiative (FII)

Posted On November 8th, 2019 - 12:40 pm | by Oil and gas press

SABIC leaders joined international partners and Saudi business leaders at the third annual Future Investment Initiative (FII) in Riyadh on October 30 and signed three MOUs with international partners through the company’s national initiative, Nusaned™.

The foundation for the MoUs were laid through SABIC’s Local Content and Business Development Unit, and could generate nearly SR 495 million for the Saudi economy.

The MOUs cover a range of projects and companies leveraging SABIC’s products and solutions – from construction to water infrastructure, energy and industrial machinery. This diversity of offerings from SABIC demonstrates the value of the company as a key enabler of Saudi Arabia’s economic diversification under Vision 2030. Most importantly, the investments will help generate jobs for Saudis in the Kingdom.

SABIC

The MoUs include agreements with: Taqnia Energy for energy-related industries and services, smart and innovative technologies in sorption cooling, waste water treatment, smart pole (ICORE), and smart grid solutions; Baker Hughes to enable several projects in the water treatment and chemical products required in the oil field; Aurora Motors and AlKhorayef Group to support localizing high efficiency electric motors.

Source / More : SABIC

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