US-based Dow Chemical Company has announced plans to construct a new state-of-the-art manufacturing facility to produce a range of polymers for coatings and water-treatment applications in Saudi Arabia at an investment of over $100 million.
Located in the PlasChem Park in Jubail, the coatings facility will service the needs of the Saudi market with an innovative range of acrylic-based polymers for industrial and architectural coatings and water-treatment and detergent applications.
The investment will create approximately 1,000 jobs during peak construction and approximately 100 high-skilled, full-time operations jobs in the kingdom, ultimately growing local manufacturing and sustainable economic growth.
The new coatings facility will complement Dow’s existing coatings capabilities in the Middle East, which include an existing facility at Jebel Ali, in Dubai, UAE.
Apart from the waterborne polymer facility, the company has also signed an agreement for a feasibility study related to a proposed investment in the company’s Performance Silicones franchise.
“Dow has been a long-term strategic partner in Saudi Arabia for nearly four decades and is the largest foreign investor in the country,” remarked Andrew Liveris, Dow’s chairman and chief executive officer, after signing the agreements at a recent event in Riyadh, Saudi Arabia.
“Through our global and regional experience and expertise, we have unmatched capabilities to deliver high value, innovative solutions that support the kingdom in key growth areas that help advance the Saudi’s Vision 2030 plan designed to create a vibrant society and a thriving diversified economy,” he added.
According to him, the proposed silicones investment will include constructing a fully-integrated, world-scale siloxanes and high-performance silicones complex geared towards markets and industries such as home and personal care, automotive, high-performance building and construction, solar energy, medical devices, and oil and gas.
When complete the complex will support the economic impact of Saudi Arabia through the creation of approximately 350 full-time, technology-skilled jobs.