Saudi Arabia-based Sadara Chemical Company (Sadara) has been classified as “Strategic” by the Saudi Arabian General Investment Authority (Sagia), the governmental entity established to oversee investment affairs in the kingdom.

Sadara is a joint venture between Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow).

This puts Sadara in the highest classification category achievable under Sagia’s current investment rankings.

According to Sagia, the classification of Sadara’s investment status is in recognition of its commitment to enhancing the value of its investments in the petrochemical and chemical sectors of the country.

This also highlights its success in bringing associated investments into the kingdom; providing significant employment opportunities for Saudi nationals; and driving further development of the industry or associated industries, it said.

Ziad Al-Labban, CEO of Sadara, said: “We are pleased to have achieved the highest ranking with Sagia, and their recognition of our positive impact on the country’s economy.”

“We are committed to continuing to contribute to the enhancement and strengthening of the kingdom’s value creation opportunities,” he added. – TradeArabia News Service