Riyadh-Mubasher: Saudi Basic Industries Corp. (SABIC) plans to invest nearly SAR 14 billion in new products such as rubber and plastic over the next years, said CEO Yousef Al-Benyan.
The petrochemical producer will inject nearly SAR 2 billion into small and medium-sized enterprises (SMEs), Makkah newspaper reported, citing Al-Benyan.
He added that the company will also carry out other investments worth SAR 2 billion in sectors such as oil, gas, marine transport and energy.
Al-Benyan told the Saudi Downstream Forum 2016 that the SMEs drive economies of most successful countries, and thus such projects grow remarkably.
SABIC expected to complete three petrochemical projects in 2016 and another project in 2017, according to the board's report for 2015.
