Saudi- Sipchem signs key deal to support university research

(MENAFN- Arab News) Saudi International Petrochemical Co. (Sipchem) and King Fahd University of Petroleum and Minerals (KFUPM) have signed a cooperation agreement to support scientific and industrial research applications of petrochemical products and manufacturing industries.

Khaled Al-Sultan KFUPM rector and Ahmed bin Abdulaziz Al-Aohali Sipchem CEO signed the agreement during a ceremony at the university in Dhahran.

The agreement focuses on supporting scientific and industrial research conducted at the university. It will help in turning theoretical research into products that can be used commercially to produce new technologies that have commercial potential 'commercialization of technology'.

Al-Sultan said 'This agreement would allow the university to develop potential commercial technologies through the investment committee.'

He said: 'The committee which is composed of representatives of the university Dhahran Techno Valley Co. and local private companies is reviewing the selected projects and approving them.'

Al-Aohali said that the agreement reflects the excellent relationship between Sipchem and King Fahd University and their keenness to develop scientific research.

'The projects' success in finding new commercial technologies will create new job opportunities for Saudis benefit local manufacturers who use polymers as a feedstock as well as provide a clean and safe environment' added Al-Aohali.