(prw) -- Sabic has signed a long-term research and innovation agreement with King Abdullah University of Science and Technology (Kaust). The agreement calls for the construction of the Sabic Research and Innovation Center at University campus, scheduled to begin operations in 2012.
The agreement, signed on behalf of Sabic by Dr Abdulrahman bin Saleh Al-Ubaid, executive vice-president, technology and innovation, and on behalf of Kaust by Dr. Mohamed Samaha, senior vice-president for economic and technology development, creates the framework under which Sabic provides construction funding for the Sabic Research and Innovation Center, as well as support for research on the jointly agreed industry/academic projects to be undertaken there.
Kaust president, professor Choon Fong Shih, said: ⌠From its early commitment as a founding member of our Industrial Collaboration Programme, Sabic has demonstrated its understanding of Kaust's unique capabilities which enable us to build synergies among research, education, innovation and enterprise, as well as to harness science and technology to address global challenges of our time - for the benefit of the Kingdom and beyond.
Sabic. The share in the Russian market in 2008:
PE - 0.2%;
PP - 0.4%;
PS - 0.2%.
Annual sales growth in Russia over the last 5 years:
PE - 33%;
PP - 62%.