Petrochemicals giant Saudi Arabian Basic Industries Corporation (SABIC) has set up a $100m technology centre in India.
Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of SABIC, officially opened the company's state-of-the-art facility in Bengaluru.
The centre is one of 17 SABIC global R&D hubs of excellence and is home to more than 300 scientists from India, described by SABIC as "a critical mass of some of the best and brightest talent from this vibrant country".
Prince Saud said: "We are extremely proud to be here, in a city that is a world-renowned centre for technology in India.
"Saudi Arabia and India have a long history of deep relationships. We believe in the future of India - a rapidly developing nation where partnership and inclusive development is a priority. India is an important market for us in Asia, which is why our investment here is significant."
Mohamed Al-Mady, SABIC's vice chairman and CEO, added: "This major centre in Bengaluru is an integral part of our global R&D strategy. In this centre the scientists here are carrying out cutting-edge research into new platforms for next-generation materials across industry sectors.
"Other initiatives include designing greener building materials to reduce environmental footprints and developing eco-friendly products in response to global megatrends and needs."
Alongside another technology centre slated to open in China later this month, the Bengaluru facility builds on SABIC's two existing dedicated application centres in the region - one in Moka, Japan, and the other in Sungnam, South Korea.For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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