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SABIC signs four agreements with KAUST

February 28/2011

(SABIC) -- Saudi Basic Industries Corporation (SABIC) signed four agreements with King Abdullah University of Science and Technology (KAUST) at the University campus in Thuwal on February 26, 2011. The agreements cover the development and localization of technology in the Kingdom of Saudi Arabia.  They advance the technology and innovation strategy pursued by SABIC as well as enhance the comprehensive cooperation program sponsored by KAUST.

KAUST President Choon Fong Shih said: The four SABIC-KAUST agreements will help both organizations fulfill our missions of harnessing science and technology for the benefit to the people of Saudi Arabia and beyond.

The first agreement is for the construction of a SABIC Research and Innovation Center at KAUST, at a cost of US$150 million, as the first stage. The second and third agreements are for SABICs direct support of KAUST. The fourth agreement organizes the joint research work between the two sides on all matters related to the management of research projects and associated intellectual property rights.

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