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Tuesday, 24 September 2019
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Markets & companies, Raw materials market

Dow signs agreements for investments in Saudi Arabia

Monday, 29 May 2017

The Dow Chemical Company has signed two agreements to advance the company’s strategic, innovation agenda in the Kingdom of Saudi Arabia (KSA) which will bring leading edge technologies to KSA.

Dow headquarters in Midland, Michigan. Source: Dow

Dow headquarters in Midland, Michigan. Source: Dow

Dow has signed an agreement to construct a manufacturing facility to produce a range of polymers for coatings, and a memorandum of understanding for a feasibility study related to a proposed investment in the company’s Performance Silicones franchise.

Long-term strategic partner

"Dow has been a long-term strategic partner in Saudi Arabia for nearly four decades and is the largest foreign investor in the country,” said Andrew Liveris, Dow’s chairman and CEO. "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.”

Located in Jubail

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. 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 new coatings facility will complement Dow’s existing coatings capabilities in the Middle East, which include an existing facility at Jebel Ali, in Dubai, United Arab Emirates.

Silicones investment

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.

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