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Saudi Arabia’s SABIC to Build Engineering Thermoplastics Compounding Plant in China

Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)
Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)
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Saudi Arabia’s SABIC to Build Engineering Thermoplastics Compounding Plant in China

Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)
Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)

Saudi Arabia’s SABIC, a global leader in diversified chemicals, signed a potential investment agreement with the Fujian government to build an engineering thermoplastics compounding plant in China’s Fujian Province.

“The new investment further underscores SABIC’s efforts to meet the unique requirements for differentiated innovative solutions from its local customers in China while strengthening its roots in the Chinese market and its contributions to the high-quality and sustainable development of the chemical industry,” the company said in a statement on Tuesday.

“This investment agreement marks another significant milestone for SABIC’s growth in China and reflects our continued confidence in investing in the country,” SABIC CEO Abdulrahman Al-Fageeh said.

“By creating synergy with upstream and downstream partners, the project aims to strengthen our supply capability in compounding products and serve this important strategic market with innovative and consistently high-quality material solutions,” he added.

The planned compounding plant will be located in the Gulei Port Economic Development Zone, Zhangzhou, Fujian.

It will primarily produce pelletized LEXAN™ Polycarbonate (PC) and CYCOLOY™ PC/ABS blends for use in advanced materials tailored to the needs of industries including electrical and consumer electronics, automotive, and emerging sectors such as solar energy, electrification, and 5G.

In addition to the planned engineering thermoplastics compounding plant, SABIC operates a SABIC Technology Center in Shanghai and three compounding plants in Guangzhou, Shanghai and Chongqing, alongside operations in 17 cities across Greater China.

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Saudi Arabia’s PIF Announces New Leadership Appointments

 Aerial view of the Saudi capital showing the Public Investment Fund (PIF) tower (SPA) 
 Aerial view of the Saudi capital showing the Public Investment Fund (PIF) tower (SPA) 
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Saudi Arabia’s PIF Announces New Leadership Appointments

 Aerial view of the Saudi capital showing the Public Investment Fund (PIF) tower (SPA) 
 Aerial view of the Saudi capital showing the Public Investment Fund (PIF) tower (SPA) 

Saudi Arabia’s Public Investment Fund (PIF) announced on Thursday a series of new leadership moves, including the appointment of Saad Alkroud as Head of the Local Real Estate Investment Division and Maram Al Johani as Acting Chief of Staff and Secretary General to the Fund’s Board of Directors.

In his new role, Alkroud will be responsible for developing PIF’s local real estate and infrastructure investment portfolio, which includes the giga-projects and several other strategic developments.

Alkroud joined PIF in 2016 as Head of Stakeholder Management, overseeing PIF Board and Committees affairs and international relations, as well as managing relationships with Saudi entities to deliver strategic initiatives and objectives.

In 2021, he was appointed as Chief of Staff, and in 2022 he took on additional responsibilities as Secretary General to the PIF Board of Directors.

In that position, he supervised corporate strategy and business plans, the PIF Project Management Office, including the establishment of new companies, and the affairs of PIF’s portfolio companies, stakeholders and committees.

He also serves on the boards of several PIF companies.

Alkroud’s appointment came after Eng. Aiman AlMudaifer has been named Acting CEO of NEOM since November 2024. AlMudaifer is also a board member of several PIF portfolio companies.

AlMudaifer has led the Local Real Estate Investment Division since 2018, helping to drive significant growth and transformation.

As of 2023, the portfolio included more than 35 real estate companies, with investments in Saudi real estate and infrastructure continuing to deliver sustainable returns.

The advancement of and investment in landmark developments and infrastructure projects have helped position PIF at the forefront of Saudi Arabia’s economic diversification, including the creation of tourism and cultural destinations.

PIF also announced that Maram Al Johani has been assigned as Acting Chief of Staff and appointed as Secretary General to the PIF Board of Directors.

She will lead organization-wide strategic planning, data and committees governance, and the project management office.

In addition, she will oversee portfolio company affairs and manage international and local stakeholders.

Al Johani joined PIF in 2017 after working for PricewaterhouseCoopers. She brings extensive experience to both roles, having served as PIF’s Head of Data and Committees Governance and Advisory Department since 2021.

PIF said these appointments reinforce the Fund’s strong leadership foundation and support the delivery of its unique mandate and long-term strategy, within the organization and across its portfolio of more than 220 companies, to create opportunities for the global economy and drive the economic transformation of Saudi Arabia.