SABIC announces the establishment of an investment company to develop national industry and support local content

Media In / Riyadh 1 November 2018
SABIC Saudi Arabia has announced the establishment of an investment and local content development company as the first independent investment fund to enable industrial investment opportunities through partnership with small and medium enterprises to enable their success and sustainability under SABIC’s national initiative.
On the sidelines of the announcement, a cooperation agreement was signed with the General Authority for Small and Medium Enterprises, represented by the Saudi Investment Company, and a memorandum of understanding with the National Bank, as SABIC’s first partner in the new investment company.
It is expected that the amount of investments that will be generated by the company’s partnerships with the public and private sectors to more than 500 million Saudi riyals.