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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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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.