22 September 2010
Saudi Basic Industries Corporation (Sabic), one of the world’s top six petrochemical companies, has opened a new office in Cape Town, both to strengthen its business in South Africa and to improve its sales performance in the southern African region.
Monday’s opening was attended by Sabic chairman Prince Saud bin Abdullah bin Thunayan Al-Saud, Sabic CEO Mohamed Al-Mady, the United Arab Emirates and Kuwait ambassadors to South Africa, and senior South African government officials.
The opening of the new office was “a clear reflection of the national, regional and global market’s growing importance as consumers of chemicals, polymers and fertilizers,” Prince Saud said. “This new facility will not only strengthen Sabic’s existing business relationships in South Africa, but will also improve the company’s sales performance in neighbouring countries.”
“We are not new to this market,” Prince Saud added, “and have serviced customers here for over a decade. We are confident that, based on our reputation as well as on the first-class infrastructure and banking institutions in South Africa, we will see increasing use of our products by local businesses.”
Al-Mady said the new facility demonstrated Sabic’s faith in the future growth prospects of South Africa and the entire sub-Saharan region.
“Moreover, this new office will be the perfect complement to our storage and distribution centre which already exists in Durban. The Cape Town office launch is a logical step forward for Sabic, and ideally positions us to take the sales of chemicals, polymers and fertilizers to a whole new level in the region.”
Western Cape MEC for Finance and Economic Development Alan Winde said the new facility would attract more investments into the province.
“By putting systems in place that make it pleasurable to do business here, we will attract the investments we need to drive growth and job creation,” Winde said. “Sabic’s arrival has reinforced this strategy.”
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