During a recent visit to the Kingdom of Saudi Arabia, Andrew Liveris, Dow’s Chairman and Chief Executive Officer, met with His Royal Highness, the Deputy Crown Prince of Saudi Arabia, Mohammad bin Salman Al Saud, Second Deputy Premier and Minister of Defense, to discuss Dow’s existing investments in the Kingdom and potential future opportunities aligned to the Company’s growth strategy and Saudi Arabia’s Vision 2030.
“Dow has been a strategic partner in Saudi Arabia for nearly four decades and is the largest foreign investor in the country,” said Liveris. “We look forward to playing a key role in helping advance the Saudi’s Vision 2030 plan designed to create a vibrant society and a thriving diversified economy".
In June, Dow became the first company to receive a trading license from the Government of Saudi Arabia, allowing 100% ownership in the country’s trading sector, expanding Dow’s long history of partnership and investment in the Kingdom. Aligned to Saudi Arabia’s strategy to diversify its economy and address challenges brought by lower global energy prices, the trading license advances Dow’s ability to deliver high value, innovative products that will benefit the country in the areas of sustainable development, energy efficiency, oil and gas, alternative energy and water.
Dow maintains several joint ventures in the region including a joint venture with Juffali & Brothers, and Saudi Acrylic Monomer Company (SAMCo). Additional strategic investments in the country include Sadara Chemical Company (Sadara), Dow’s joint venture with Saudi Arabian Oil Company (Saudi Aramco), agreements with King Abdullah University of Science and Technology (KAUST) to construct a new Dow Middle East Research and Development Centre, and a reverse osmosis (RO) manufacturing facility – the first unit of its kind outside of the US.
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