Dow signed an agreement to construct a state-of-the-art manufacturing facility to produce a range of polymers for coatings and water treatment applications, and a memorandum of understanding (MoU) for a feasibility study related to a proposed investment in the company’s performance silicones franchise.
Andrew Liveris, Dow’s chairman and CEO, signed the agreements at an event in Riyadh, Saudi Arabia, attended by US president Donald Trump; Salman Bin Abdulaziz Al-Saud, King of Saudi Arabia; Mohammad bin Salman bin Abdulaziz Al-Saud, Deputy Crown Prince of Saudi Arabia and other distinguished guests.
Located in the PlasChem Park in Jubail, the coatings facility will service the needs of the Saudi Arabian market with an innovative range of acrylic-based polymers for industrial and architectural coatings and water-treatment and detergent applications.
The investment will create approximately 1,000 jobs during peak construction and approximately 100 high-skilled, full-time operations jobs in the Kingdom, ultimately growing local manufacturing and sustainable economic growth.
The proposed silicones investment will include constructing a fully integrated, world-scale siloxanes and high-performance silicones complex geared towards markets and industries such as home and personal care, automotive, high-performance building and construction, solar energy, medical devices, and oil and gas. When complete the complex will support the economic impact of KSA through the creation of approximately 350 full-time, technology-skilled jobs.
In June 2016, Dow became the first company to receive a trading license from the Government of Saudi Arabia, allowing 100 percent ownership in the country’s trading sector.
“Dow has been a long-term strategic partner in Saudi Arabia for nearly four decades and is the largest foreign investor in the country. Through our global and regional experience and expertise, we have unmatched capabilities to deliver high value, innovative solutions that support the Kingdom in key growth areas that help advance the Saudi’s Vision 2030 plan designed to create a vibrant society and a thriving diversified economy,” said Liveris.
Read More: Dow inks deals for coatings, silicones investments in Saudi Arabia
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