SABIC chief meets Chinese delegations, notes high commitment to China ops
Officials with petrochemical major Saudi Basic Industries Corp. (SABIC) hosted senior Chinese official He Lifeng – vice party secretary of the Tianjin city government – on Friday at its headquarters in Riyadh, offering what it said was a strong sign of support for its growing China business profile.
Mohamed Al-Mady, SABIC CEO, received the official as well as his delegation, which also included Xu Hongxing, president of the SINOPEC SABIC Tianjin Petrochemical Co. venture.
The Chinese dignitaries watched a corporate film and a presentation, and attended a lunch reception hosted in their honor.
Expressing his views on the visit, Al-Mady said that it reflects SABIC’s strong commitment to the Chinese market.
“SABIC has embarked on a series of growth initiatives in China, including a new partnership with SINOPEC to build a polycarbonate plant in Tianjin and a new research center in Shanghai,” Al-Mady said.
The visit comes on the heels of two recent delegations from China to SABIC - one headed by Zhang Gaoli, a member of the central committee political bureau with the Communist Party of China (CPC) and secretary of CPC Tianjin Municipal.
The second delegation was led by Li Yongwu, chairman of China Petroleum and Chemical Industry Federation.
He Lifeng was the party secretary of Fuzhou city and Xiamen before he being promoted to his current post. He was also the Xiamen city director of treasury, and later vice mayor.
SABIC has 17 offices in the China region, three manufacturing plants in Shanghai, Guangzhou and Tianjin, and one technology and innovation center in Shanghai. It employs over 900 staff members.
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