New Saudi-Korean joint venture to establish facility in PlasChem Park

Updated 21 April 2017
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New Saudi-Korean joint venture to establish facility in PlasChem Park

A new joint venture between Maydan Industry for Industrial Development & Investments Co. (Maydan Industry), Ahmad Kassim Al-Amoudi Group Co. Ltd. (AKA), and the South Korean technology company SFC has been signed to establish a manufacturing plant in PlasChem Park. The new facility will produce a range of surfactants, which are specialty chemicals used in the production of detergents and other applications.
A new company named the Surfactant Detergent Company LTD. (SDC) will be established as part of the JV agreement. The company will be based in PlasChem Park, a chemical and conversion industrial park adjacent to Sadara Chemical Company in Jubail Industrial City 2, developed jointly by Sadara Chemical Company and the Royal Commission for Jubail and Yanbu.
The JV agreement follows a long-term supply agreement for Ethylene Oxide (EO) and Propylene Oxide (PO) signed previously between Sadara and the SDC partners, which will be supplied though dedicated pipelines constructed by Sadara.
SDC will be the first company in the region to use the very latest Korean technology developed by SFC. The locally sourced raw materials from Sadara and advanced technology will enable the company to create value for the local market in terms of economic diversification and job creation for Saudis by manufacturing new products at competitive prices for local and regional customers.
Abdulrahman Al-Swailem, chairman of Maydan Industry, said: “This new venture is inspired by the Kingdom’s Vision 2030 which seeks to diversify the economy. The planned manufacturing facility is expected to be 40,000 metric tons with an approximate capital expenditure of SR189 million ($50.3 million).”
Abdullah Ahmad Al-Amoudi, chairman of AKA, noted: “The new project will meet the local and regional market needs for surfactants in a wide range of applications. We thank our colleagues at Sadara and the Royal Commission of Jubail and Yanbu on this occasion for their tremendous support in finalizing these agreements and their efforts to develop PlasChem Park.”
Hong Junko, CEO of SFC, said: “This joint venture is a great opportunity for us and our Saudi partners, as we are creating an advanced, cost-efficient factory that utilizes our technical knowledge to create added value for the Kingdom. The project has already been initiated by senior engineers preparing for the final engineering designs, which will be followed by construction of the plant itself.”


Cartier unveils Coloratura at historic Riyadh palace

Updated 13 February 2019
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Cartier unveils Coloratura at historic Riyadh palace

Guests of Cartier were treated to an unforgettable evening at the late King Faisal’s palace Qasr Al-Maather, situated in the heart of the Alfaisal University in Riyadh, as the maison unveiled its latest high jewelry collection Coloratura. 

The evening was held under the patronage of Princess Maha bint Mishari, vice president of external relations and advancement at Alfaisal University. In her opening remarks, she said: “The new friendship between maison Cartier and Alfaisal University is about the shared values and goals that we have in the areas of education and the empowerment of women.”

Princess Maha added: “Cartier’s global efforts as well as the great heart and commitment of the entire Cartier team were so very apparent in the spectacular exhibition created, as evidenced by the great care taken in preparation of the historic venue for the evening’s event.” 

Coloratura took the guests on a journey to the four corners of the globe, symbolic of Cartier’s long-standing relationship with India, Africa and the Orient. With dynamic stone pairings, unexpected color palettes and the illusion of infinite movement, Coloratura also featured exclusive pieces, created by Cartier especially for its Saudi clients.

Held in one of the Kingdom’s most iconic building, Coloratura was presented in conjunction with an exhibition of pieces from the Cartier Patrimony Collection, especially flown in for the occasion and illustrating the maison’s main creative influences throughout its history. A key piece of the exhibition was the Asma Allah Al-Husna bracelet, featuring a 19th century Islamic arts inspired creation.

“The legacy of the House of Cartier is ensured through the brilliance of its artisans, as is the legacy of Alfaisal ensured through that of its students. Shared values, mutual interests, and a commitment to education are what binds this collaboration for now, and for success in all its future endeavors to come,” said Princess Maha.

The guests witnessed and appreciated Cartier’s mastery of fine craftsmanship through pieces from the Tutti Frutti collection. A marriage of texture, color and form with sapphires, rubies and emeralds, Tutti Frutti possesses a unique style that dates back to the 1920s. 

“After Paris, Tokyo and Seoul, we are proud to offer our Saudi clients this stunning showcase of Cartier’s know-how in their home country,” said Alban du Mesnil du Buisson, managing director Cartier Saudi Arabia. 

“We are very pleased to have our event open to the public on one of the exhibition days, and truly honored to host it inside this unique and culturally significant structure that symbolizes the Kingdom’s commitment to nurturing and educating its community and youth — a philosophy that echoes Cartier’s values,” he added.