Chairman of Saudi Arabian Basic Industries Corporation (SABIC) and of the Royal Commission for Jubail and Yanbu Prince Saud bin Abdullah bin Thunayan Al-Saud opened in Jubail today the Sixth SABIC Technical Meeting, a three-day seminar under the title ‘Face the challenges’. SABIC, he said, faces many challenges as it continues its success, with the fluctuations of global conditions and stiff competition arising from mergers; there is therefore a need to devise rational scientific procedures and innovative and creative solutions.
SABIC plans to minimize its costs in various operations, and enhance its competitive capabilities by adding value to the quality of its products and services. Last year, great achievements were made not only in production, marketing and profits, but also in safety and the environment, with SABIC affiliates reaching 93 million man-hours without any lost-time injury, a remarkable safety performance in the petrochemical industry. The globalization of its research facilities has generated numerous international patents for the company. SABIC is set to become, by 2006, the world's largest producer of ethylene glycol, from its partnership with Süd-Chemie of Germany.