SABIC opens tech centre in Bangalore

Written by fe Bureau | Bangalore | Updated: Nov 30 2013, 10:08am hrs
Saudi Arabias royal family owned $50-billion petrochemicals and fertilisers firm SABIC Group on Friday opened a $100-million technology centre in Bangalore. The company, which plans to triple the headcount of scientists from the current 300 by 2015, may also open a manufacturing base in the country.

India is an important market for us in Asia, which is why our investment here is significant, said Prince Saud Bin Abdullah Bin Thenayan Al-Saud adding that the group believes in the future of a rapidly developing country.

We are evaluating different options and if targets are achieved, you would see a full manufacturing base in India, said SABIC vice-chairman and CEO Mohamed H Al-Mady.

India is an important destination for the company to achieve its target of doubling sales by 2025, he added.SABIC, which will now have two technology centres in India and China.