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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. 100
  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.
    
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