MOSCOW (MRC) -- Saudi Arabia-based SABIC on Friday opened its new USD100 million technology center in Bengaluru, India, as per Hydrocarbonprocessing.
The technology center will house 300 scientists, whose roles are to carry out research into new platforms for next-generation materials across industry sectors such as construction, clean energy, electronics, medical devices and transportation.
"Other initatives include designing greener building materials to reduce environmental footprints and developing eco-friendly products in response to global megatrends and needs," the company said in a statement.
SABIC has 17 technology and innovations centers around the globe, with the India location the newest.
"Saudi Arabia and India have a long history of deep relationships," said Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of SABIC.
"We believe in the future of India - a rapidly developing nation where partnership and inclusive development is a priority," he added. "India is an important market for us in Asia, which is why our investment here is significant."
As MRC reported previously, this Autumn, the polymershapes division of Sabic (Riyadh/Saudi Arabia) opened a new US branch in Austin, Texas, to give local customers better access to its plastics and associated products.
Sabic is ranked among the world's largest petrochemicals manufacturers. It is the largest public company in Saudi Arabia. The comany manufactures chemicals and intermediates, industrial polymers, fertilizers and metals. It is currently the second largest global ethylene glycol producer, the third largest polyethylene manufacturer, the fourth largest polyolefins manufacturer and the fourth largest polypropylene manufacturer. Among its products are propylene, paraxylene, styrene, vinyl chloride monomer.