SABIC aims to turn the Kingdom of Saudi Arabia into a manufacturing hub for catalysts — a cornerstone of the energy and petrochemical industries — and reduce reliance on imports by localising the industry.

In this regard, a strategic project to manufacture catalysts was signed last month.

Part of the Shareek programme and its first package, the project will contribute to industrial advancements in line with Vision 2030, including improving competitiveness of the energy sector, developing industries associated with the oil and gas industries, and raising the level of local content in this area.

On the occasion, Abdulrahman Al-Fageeh, SABIC CEO, participated in a panel discussion with the CEOs of large companies in Saudi Arabia, where he highlighted accelerating the transfer and localisation of modern and advanced technologies in the petrochemical industry.

This would contribute to raising energy efficiency and helping SABIC reach its carbon neutrality targets by 2050.

He added that despite Saudi leadership in the energy and petrochemical industries, the Kingdom largely relies on catalyst imports, which increases operational risks in the event of any supply chain disruption.

"SABIC's investment in catalysts will contribute to securing our needs and that of the petrochemical manufacturers in the region."

SABIC’s strategy for manufacturing catalysts is based on knowledge acquisition, applying the latest technologies and making improvements to them before localisation.

To this end, SABIC has set a two-stage approach: To fully acquire scientific design (which was done last year) and secure a key catalyst used by SABIC for the glycol manufacturing; and to take the first phase forward with three new plants for the catalysts used in the manufacture of polymers and chemicals.

Moreover, SABIC is collaborating with Shareek to identify the most important enablers and drivers to build the catalyst industry in the Kingdom.

Shareek was launched in March 2021 by Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, to enhance partnership with the private sector, develop partnership between the public and private sectors, and support sustainable growth to build the national economy.