Pretoria - One of the world's largest petro-chemical company Saudi Basic Industries Corporation (SABIC) has opened an office in Cape Town.
SABIC manufactures and sells products such as fertiliser and raw materials for the plastics industry. It is also a key player in innovation and has investments in countries around the world.
The company chose to base themselves in Cape Town because it is an ideal strategic entry point into sub-Saharan Africa, said SABIC CEO Mohamed Al-Mady, adding that the new facility would bring the supplier and customer closer together.
It also demonstrates SABIC's faith in the future growth prospects for South Africa and the entire Sub-Saharan region.
Welcoming the launch, Western Cape MEC for Finance and Economic Development Alan Winde said the new facility would attract more investments into the province.
"By putting systems in place that make it pleasurable to do business here, we will attract the investments we need to drive growth and job creation. SABIC's arrival has reinforced this strategy," said Winde.
