|
|
Petro Rabigh, a Leader in
Attracting Foreign Investments
On January 26, 2010, Rabigh Refining
and Petrochemical Company “Petro
Rabigh” was awarded the “Global
Competitiveness Forum Award” for
being the company with the highest
foreign investment in the Kingdom of
Saudi Arabia during the Forum’s 4th
annual edition.
| The
Award was presented by The
Governor of SAGIA, Amr
Dabbagh to the President and
CEO, Ziad Labban before a
number of renowned key
figures and business icons
from all over the world. |
|
| |
President & CEO, Ziad S.
Al-Labban receives the GCF
Award from the Governor of
SAGIA, Amr Al-Dabbagh |
The forum was held in Riyadh from
January 24 through 26 under the
patronage of the Custodian of the
Two Holy Mosques, King Abdullah bin
Abdulaziz Al-Saud and was attended
by and was attended by more than
2,000 participants from all over the
world including CEO’s, political
leaders and international thought
leaders in addition to 100 speakers
who delivered various speeches in
different disciplines between
Business, Politics, Environment,
Research & Education.
The over $10 billion project
includes a 2.7 million square meter
industrial park known as the Rabigh
PlusTech Park (RPP). RPP will be the
home for 40 to 50 manufacturing
facilities which use petrochemical
feedstock from Petro Rabigh to
produce secondary and tertiary
products such as automotive parts,
plastic products, medical
consumables and insulation
materials. Furthermore, RPP will be
creating jobs for approximately
5,000 people and will be an avenue
through which further downstream
value will be created in the Kingdom
of Saudi Arabia.
Commenting on Petro Rabigh’s
achievement, Mr. Al-Labban said that
“it is through the investment which
Petro Rabigh has made in its
integrated refining and
petrochemical complex that the
company will create more value from
hydrocarbon resources of the Kingdom
through conversion into higher
valued refined and petrochemical
products, which will support
downstream projects. The company’s
investments will create jobs for
Saudis, support expansion of the
Saudi economy through its RPP and
create value for its shareholders
through its profitable operations. |