Sabic’s localisation initiative contributes $2.4bn to GDP
, December 30, 2020 The Nusaned Council has celebrated the graduation of 43 new investors at the SABIC Plastic Applications Development Center (SPADC), bringing the total number of graduates since the launch of the initiative to 106 investors qualified to start projects that will create 6,610 jobs and contribute more than SR8.8 billion ($2.35 billion). Several strategic partnership agreements and memoranda of understanding were also signed to qualify and empower SMEs and create advanced commercial products. The MoUs and partnerships will also help strengthen cooperation with the Saudi business community and universities in the areas of sustainability and innovation and develop training and manufacturing programs to contribute to localizing technologies and industries in the Kingdom.