RIYADH, 13 September 2006 — Saudi Arabian General Investment Authority (SAGIA) Governor Amr Al-Dabbagh is heading a delegation of Champion Saudi CEOs on a visit to Beijing to attend the BusinessWeek’s 10th annual CEO Forum in November.
Abdullah Al-Rakhis, CEO of RAKISA Holdings, and Intermediate Vice President Khalid Almana of SABIC will head the delegation accompanying Al-Dabbagh. Both companies are sponsoring the event.
The Saudi Basic Industries Corporation is embarking on a major expansion program in Asia Pacific, and China in particular. It currently has eight offices with its regional hub based in Singapore and is in the process opening new offices in Beijing, Southern China, Jakarta and Melbourne. SABIC is the largest public company in the Middle East, ranked by market capitalization of more than $150 billion, and is one of the Top 10 largest petrochemicals manufacturers in the World.
RAKISA, an investment holding company and lead developer of the Prince Abdullah ibn Mousaed Economic City (PABMEC), is also setting out on a road show to Asia later this year. PABMEC is a $8 billion project located in Hail. It is set to be the inter-modal transportation hub of the region.
This initiative is a continuation of Custodian of the Two Holy Mosques King Abdullah’s visit to Beijing earlier in January.