Riyadh – Mubasher: Saudi Basic Industries Corp.’s (SABIC) announced raising its local purchases to SAR 1.19 billion and the rate of local manufactured materials to 72%, as a part of SABIC’s 2025 strategy.
The initiative aims to increase the local content and nationalize more than SAR 270 billion to promote the added value of the local content, the company reported on Sunday.
Abdul Rahman bin Abdullah Al-Zamil chairman of Council of Saudi Chambers of Commerce and Industry said that SABIC’s step will have a positive impact on the national economy and will promote the competition in the market, according to the Saudi Press Agency (SPA).
He pointed to the importance of unifying the plans and content support programmes in the mega companies to implement the Saudi industrial National Transformation Plan.
