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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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Oracle Opens 2nd Public Cloud Region in Saudi Arabia to Meet Growing Demand for AI

Oracle is looking to capitalize on the growing demand for cloud and AI to launch three public could regions in Saudi Arabia (Asharq Al-Awsat)
Oracle is looking to capitalize on the growing demand for cloud and AI to launch three public could regions in Saudi Arabia (Asharq Al-Awsat)
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Oracle Opens 2nd Public Cloud Region in Saudi Arabia to Meet Growing Demand for AI

Oracle is looking to capitalize on the growing demand for cloud and AI to launch three public could regions in Saudi Arabia (Asharq Al-Awsat)
Oracle is looking to capitalize on the growing demand for cloud and AI to launch three public could regions in Saudi Arabia (Asharq Al-Awsat)

Oracle on Tuesday announced the opening of its second public cloud region in Saudi Arabia to meet the rapidly growing demand for its AI and cloud services.

“The new Riyadh cloud region will help public and private sector organizations migrate all types of workloads to Oracle Cloud Infrastructure (OCI), giving them access to a wide range of cloud services to modernize their applications and innovate with data, analytics, and AI,” the US company said in a statement.

Center3 is the host partner for the new Oracle Cloud Riyadh Region.

As part of Oracle’s distributed cloud strategy and Oracle’s $1.5 billion investment to expand cloud infrastructure capabilities in the Kingdom, the new region will help boost Saudi Arabia’s AI economy, which is expected to reach $135.2 billion by 2030, the statement said.

The Oracle Cloud Riyadh Region joins the existing Oracle Cloud Jeddah Region and the planned Oracle Cloud Region in NEOM to extend Oracle’s footprint in Saudi Arabia, it added.

“The opening of Oracle’s new cloud region in Riyadh reflects the Kingdom’s continuous efforts in boosting the digital economy based on modern technologies and innovation,” said Eng. Haytham Alohali, Deputy Minister of the Ministry of Communications and Information Technology. “This step will significantly enable international and local companies to achieve innovation and promote the adoption of AI and cloud computing technologies in various sectors, which enhances Saudi Arabia’s competitiveness at the regional and international level.”

For his part, Richard Smith, executive vice president and general manager in Europe, the Middle East, and Africa Cloud Infrastructure at Oracle, said: “With the rapid expansion of our cloud footprint in Saudi Arabia, Oracle is committed to helping the country achieve its goal of developing one of the strongest digital economies in the world.”

“As part of our wider investment in cloud capabilities in Saudi Arabia, the Oracle Cloud Riyadh Region will help accelerate adoption of cloud and AI technologies to boost innovation across all sectors of the Saudi economy, while helping organizations addressing local data hosting requirements,” he added.