By: ICN Bureau
Last updated : February 20, 2021 1:32 pm
The technology will help achieve sustainability targets by reducing greenhouse gas emissions in transportation markets.
SABIC, a global leader in diversified chemicals, and King Abdulaziz City for Science and Technology (KACST) signed a Joint Development Agreement (JDA) to develop high performance and lightweight materials for advanced applications.
SABIC Vice Chairman and CEO Yousef Al-Benyan and KACST President Dr. Anas Al-Faris signed the JDA in Riyadh on February 10.
“This joint development effort fits strategically with the objectives of Saudi Vision 2030 to promote local industries through collaboration and innovation. These high-performance materials will be developed entirely in Saudi Arabia to serve the Kingdom’s downstream needs,” said Al-Benyan.
“The technology will help achieve sustainability targets by reducing greenhouse gas emissions in transportation markets, because of weight reductions with the use of lightweight materials,” he added.
“This agreement will allow us to serve the growing market for advanced materials uses in the Kingdom and create enormous opportunities for new and downstream industries,” said Dr. Al-Faris.
“We aim to contribute to enriching the local content, thus supporting the Kingdom's economy and enhancing its competitive position in these industries,” he added.
Making use of the existing capabilities and expertise, SABIC and KACST will partner in a multi-year joint research program aiming to develop advanced materials.