140 Saudi bright young things shortlisted from 13,000 applicants

Saudi students sit for their final high school exams in the Red Sea port city of Jeddah. (AFP)
Updated 02 May 2018
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140 Saudi bright young things shortlisted from 13,000 applicants

  • Qimam Fellowship to select around 50 students for mentorship program in May
  • Female students account for 59 percent of around 140 students shortlisted

LONDON: The Qimam Fellowship, a scholarship program for Saudi students backed by corporations including Al Tayyar Travel Group, Careem, McKinsey & Company and Cisco, has completed its inaugural round of shortlisted candidates.

The fellowship program, formally launched in February, interviewed more than 140 candidates, selected from over 13,000 applicants. Interviews were conducted by more than 50 leaders from the public and private sectors, Qimam said in a statement on Wednesday.

Interviewed candidates will be informed of the outcome of the interview process and next steps on May 10, the organisation said. Approximately 50 candidates will be chosen as “Fellows” in the first round.

“The level of candidates in the interview stage was outstanding,” said Qimam’s founder and CEO Annas Abedin.

“Although the Qimam Fellowship is still in its first year, the high number of applicants and the wide range of their impressive accomplishments underscores the outstanding academic and creative potential of youth in Saudi Arabia.”

Shortlisted students were selected from over 40 universities, and are enrolled in disciplines including medicine, engineering, business and management, and media. Female candidates made up 59 percent of those selected for the initial round.

Candidates participated in two in-person interviews in Riyadh, and were quizzed on their academic and non-academic accomplishments, initiatives, and social responsibility activities.

Those conducting the interviews came from organizations including Al Khaleejiah Advertising and Public Relations, Al Tayyar Travel Group, Careem, Cisco, Bab Rizk Jameel, General Electric, Saudi Arabian Mining Company Ma’aden, McKinsey & Company, STC, Rocket Internet, Pearson, OQAL, Aberkyn and Smaat.

“We look forward to playing a role in creating new opportunities for Saudi’s next generation of business leaders, especially as we stand at such a transformative moment in the social and economic evolution of the Kingdom,” said Tom Isherwood, a Dubai-based partner at McKinsey & Company.

The Qimam Fellowship was founded with the aim of empowering “the most promising and distinguished university students in the country to achieve their full potential,” providing selected students one-on-one mentorship from senior public and private sector leaders and leadership training by professionals from renowned companies.

“We were delighted to learn about the impressive accomplishments of Qimam applicants, including the filing of patents, the receipt of prestigious national and international awards, the launch of successful companies and initiatives, and others,” said Abdullah Al-Dawood, CEO of Al Tayyar Travel Group.

“These achievements demonstrate the impressive innovative spirit of Saudi Arabia’s youth and promise a great future ahead.”


Jubail petrochemical complex could lead to homegrown car industry

Updated 27 June 2019
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Jubail petrochemical complex could lead to homegrown car industry

  • Advanced Petrochemical said it signed a memorandum of understanding with SK Gas to build a propane dehydrogenation and polypropylene complex
  • The project is expected to produce high value plastics grades for the automotive industry as well as other specialized grades that are currently being imported into Saudi Arabia

LONDON: Advanced Petrochemical and South Korean SK Gas plan to develop a $1.8bn petrochemical complex in Jubail that could help plans to develop a homegrown car industry in Saudi Arabia.
It comes amid increased economic cooperation between Riyadh and Seoul following an $8.3 billion economic co-operation pact struck this week during the first visit of Saudi Crown Prince Mohammed bin Salman to South Korea.
The Saudi petchem producer said it signed a memorandum of understanding with SK Gas to build a propane dehydrogenation and polypropylene complex. The project is expected to produce “high value plastics grades for the automotive industry” as well as other specialized grades that are currently being imported into Saudi Arabia, Advanced Petrochemical said in a filing to the Tadawul stock exchange on Wednesday.

 

Separately the company said it has received propane feedstock allocation from the Kingdom’s Ministry of Energy, Industry and Mineral Resources for the project, which is slated to start in 2024.
Advanced Petrochemical also disclosed in a third filing that it was conducting a feasibility study for a cracker project in the Kingdom.
These latest deals reflect twin objectives to develop high-value manufacturing in the Kingdom to create jobs while also investing heavily in the petrochemicals sector to capitalize on rising global demand for high value plastics.
Saudi Arabia is the largest new automotive sales and auto parts market in the Middle East, accounting for an estimated 40 percent of all vehicles sold in the region, according to the US export.gov website.The addition of potentially as many as 3 million women drivers to the roads is expected to further spur domestic demand.
Saudi companies, spearheaded by Saudi Aramco, are investing billions of dollars in petrochemical projects worldwide to meet rising global demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then, according to the International Energy Agency (IEA).
Demand for plastics — the key driver for the petchem industry — has outpaced all other bulk materials (such as steel, aluminum, or cement), nearly doubling since 2000, the IEA estimates.

FACTOID

40% - Saudi Arabia is the largest new automotive sales and auto parts market in the Middle East, accounting for an estimated 40 percent of all vehicles sold in the region.