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Wa'ed & Sadara to Promote PlasChem Park

Source: www.gulfoilandgas.com 6/30/2012, Location: Middle East

Saudi Aramco Entrepreneurship Center Company Ltd. (Wa’ed) and Sadara Chemical Company (Sadara) have agreed to promote the PlasChem Park in Jubail Industrial City II in the Eastern Province of Saudi Arabia to local small and medium sized enterprises.

PlasChem Park is presently a collaborative effort between Sadara and the Royal Commission for Jubail and Yanbu (RCJY) to establish a world class industrial park for chemical and conversion industries in Jubail.

Wa’ed is a newly formed company, wholly owned by Saudi Aramco, established to be a major financer and incubator of new businesses in the Kingdom; promoting local economic opportunity and creating jobs in Saudi Arabia. Wa’ed will participate directly in the development of investment opportunities and indirectly through entrepreneurs associated with the PlasChem Park.

The PlasChem Park will be located next to the Sadara Complex in Jubail and the collaborative effort will enable the establishment of independent downstream petrochemical businesses in the Kingdom while providing required support services and offering shared assets.

It will bring many diversified products and target market segments new to Saudi Arabia and complement others which are currently served only by imports. The PlasChem Park will create opportunities for high-skilled employment and localized new technologies; and will support the Kingdom’s development as an exporter of finished goods.

Sadara is a joint venture between Saudi Aramco and The Dow Chemical Company and was incorporated to build, own and operate a world-scale integrated chemicals complex in Jubail Industrial City II, in the Eastern Province of the Kingdom of Saudi Arabia. Comprised of 26 manufacturing units, the Sadara complex will be one of the world’s largest integrated chemical facilities; the largest ever built in a single phase.

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