Sahara International Petrochemical Company (Sipchem), a world-class integrated petrochemical leader sponsored the recently held 14th GPCA Annual Forum which was organized by Gulf Petrochemical and Chemical Association in Dubai, UAE.
The late Sipchem chairman Abdulaziz bin Abdullah Al-Zamil, revered as pioneer in the global and regional chemical industry, was honoured at a special award ceremony and bestowed with the GPCA Legacy Award “Al-Rowad”, for his lifetime achievements and outstanding contributions to the growth and development of the chemical and petrochemical industry in the Kingdom.
The appointed chairman Khalid A. Al-Zamil, said during the ceremony: “I would like to thank the Legacy Award Committee for this award, Al-Zamil’s dedication to the Kingdom’s continued prosperity has not only elevated the economy, but the entirety of our nation. We will aim to carry on his fortitude and innovation throughout Sipchem.”
The main purpose behind Sipchem’s participation is to raise awareness on the precedent of the first-ever petrochemical merger of equals of two leading publicly listed entities in Saudi Arabia, Sahara Petrochemicals and Sipchem, which highlighted 14 successful years of shaping strategic partnerships, strong advocacy and thought-leadership. Similarly, Sipchem sponsored 5 bright students from Saudi universities to partake in the forum, providing a platform for their ideas and innovations.
Saleh Bahamdan, chief executive officer of Sipchem, delivered a presentation on “Merger of equals: Capturing the full potential of the Sipchem merger”, in which he said: “We would like thank the GPCA for providing a unique platform for us to emphasize our trajectory, advancing us towards new competitive landscapes, partnerships and opportunities on the short-term and the long-term.
“Moreover, the principle of ‘Strategic Partnership’ has helped us create measurable value to our shareholders and others alike, this guided us to proceed with the first-ever petrochemical merger of equals in Saudi Arabia.”
The 14th Annual GPCA Forum took place at Madinat Jumeirah, Dubai, UAE, and addressed the theme of ‘Winning through Strategic Partnerships’. Bringing together industry leaders from the region and the world, to share inspirational case studies on how to deliver value for shareholders, business and society. Moreover, aims to showcase how to innovate for the future and address key challenges, adding to the role of supporting the development of a competitive downstream industry in the GCC. – TradeArabia News Service